Category Archive

Asia Market

Japan’s Nikkei falls over 2% as Asia-Pacific markets trade mixed; Australia hits new closing high

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Lim Hui Jie

KEY POINTS

  • Japan’s Nikkei 225 dropped 2.45%, leading losses in Asia after three straight days of setting new closing highs and closing at 41,190.68.
  • In contrast, Hong Kong Hang Seng index surged 2.55%, while Australia’s S&P/ASX 200 set a new all time closing high.
  • China’s exports beat expectations, climbing 8.6% year-on-year in June as compared to expectations of an 8% rise forecasted by a Reuters poll of economists.

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Japan’s Nikkei falters in volatile session after crossing 41,000 mark to hit fresh all-time high

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Lim Hui Jie

KEY POINTS

  • The Nikkei and the the broad-based Topix faltered and dipped from their record highs earlier in the session.
  • The country’s household spending for May unexpectedly dipped 1.8% in real terms compared to the same period last year.
  • South Korea’s Kospi was 0.9% higher, and the small-cap Kosdaq rose 0.61%. Heavyweight Samsung Electronics on Friday estimated that its second quarter operating profit will surge almost 15-fold.

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Japan’s Nikkei 225 declines after hitting fresh all-time highs as Asia markets mostly fall

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Lim Hui Jie

KEY POINTS

  • The Nikkei and the the broad-based Topix faltered and dipped from their record highs earlier in the session.
  • The country’s household spending for May unexpectedly dipped 1.8% in real terms compared to the same period last year.
  • South Korea’s Kospi was 0.9% higher, and the small-cap Kosdaq rose 0.61%. Heavyweight Samsung Electronics on Friday estimated that its second quarter operating profit will surge almost 15-fold.

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Japan and Taiwan stock benchmarks hit all-time highs as Asia-Pacific markets rally

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Lim Hui Jie & Dylan Butts@IN/DYLAN-B-7A451A107

KEY POINTS

  • The Topix crossed its all-time high of 2,886.50, set in December 1989, while the Nikkei 225 surpassed an all-time high of 40,888.43 set in March.
  • The Taiwan Weighted Index also reached a fresh high, surpassing its previous record of 23,406.1 set on June 20.
  • Japanese companies delivered the largest wage hikes in three decades this year, according to the nation’s largest union. Workers’ pay is forecast to rise by 5.1%, according to labor union Rengo.

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Asia-Pacific markets mostly rise as investors assess business activity data from the region

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Lim Hui Jie & Dylan Butts@IN/DYLAN-B-7A451A107

KEY POINTS

  • The au Jibun Bank reported that Japan’s composite purchasing managers’ index fell to 49.7 in June.
  • the Caixin services purchasing managers’ index showed that China’s services sector expanded for the 18th consecutive month.

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Asia-Pacific markets mostly fall as yen hovers at 38-year lows; South Korea inflation in focus

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Lim Hui Jie & Dylan Butts@IN/DYLAN-B-7A451A107

KEY POINTS

  • Traders in Asia assessed South Korea’s inflation rate which came in at 2.4% for June, missing expectations of economists polled by Reuters who had predicted it at 2.7%.
  • The Japanese yen weakened to as much as 161.67 against the dollar, staying at 38-year lows.

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Asia markets mixed as China manufacturing contracts again, Japan revises first quarter GDP downward

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Lim Hui Jie

KEY POINTS

  • China released its official PMI figures on the weekend, with its manufacturing PMI coming in at 49.5, unchanged from May and marking its second straight month in contraction territory.
  • On Monday, Japan revised its first-quarter GDP contraction to 2.9% year on year, from 1.8% reported earlier.

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Asia-Pacific markets rise as investors assess Japan economic data; yen hits fresh 38-year low

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Lim Hui Jie

KEY POINTS

  • Japan’s industrial production grew 2.8% month on month in May, beating expectations of 2% from economists polled by Reuters.
  • Headline inflation for Japan’s capital city of Tokyo accelerated to 2.3% year on year in June, up from 2.2% in May.
  • The yen hit fresh 38 year lows against the greenback, weakening to as low as 161.27 against the dollar.

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Asia-Pacific markets fall after Japan’s yen weakens to a near 38-year low; Hong Kong leads losses

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Lim Hui Jie & Sheila Chiang@IN/SHEILACHIANG@SHEILACHIANG

KEY POINTS

  • The Japanese yen weakened to a near 38-year low late Wednesday, dropping to 160.82 against the U.S. dollar, according to FactSet data.
  • Japan’s year-on-year retail sales growth for May came in at 3%, higher than the market forecast of 2%, according to a Reuters poll of economists.
  • China’s industrial profits grew 3.4% year on year from January to May.

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Asia-Pacific markets mixed as Australia’s inflation climbs; chip stocks track Nvidia rebound

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Lim Hui Jie & Sheila Chiang@IN/SHEILACHIANG@SHEILACHIANG

KEY POINTS

  • Australia’s headline inflation rate for May is 4%, compared to the 3.6% recorded in April.
  • Semiconductor-related stocks such as Advantest jumped more than 6%, while Taiwan Semiconductor Manufacturing Company, SK Hynix and MediaTek increased 1.38%, 4% and 3.25% respectively.

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