Category Archive

Lee Ying Shan@IN/YING-SHAN-LEE@LEEYINGSHAN

KEY POINTS

• India is slated to unveil its first budget under Prime Minister Narendra Modi’s third five-year term.
• Traders in Asia will also watch out for Singapore’s inflation data for June.

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Lim Hui Jie

KEY POINTS

• U.S. President Joe Biden announced his withdrawal from the 2024 presidential race, endorsing Vice President Kamala Harris.=
• Traders return to the markets after machines running Microsoft’s Windows operating system crashed Friday due to a glitch in an update issued by cybersecurity company CrowdStrike. Shares of CrowdStrike plunged 11% on Friday.
• China’s loan prime rate will be releases later in the day, with the one- and five-year LPR expected to be unchanged, according to economists polled by Reuters.

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Lim Hui Jie

KEY POINTS

• Investors assessed Japan’s inflation numbers for June for clues on the Bank of Japan’s potential moves at its monetary policy meeting on July 30 and 31.
• The country’s headline inflation was unchanged from May at 2.8%, while core inflation, which strips out prices of fresh food, accelerated to 2.6%, from 2.5% in May.

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Charmaine Jacob@IN/CHARMAINEMARIAJACOB@CHARMAINEMJACOB

KEY POINTS

• The tech-heavy Nasdaq Composite fell 2.8% overnight, posting its worst day since December 2022.
• Japan’s trade balance reversed from 1.2 trillion yen deficit in May, or $7.7 billion, to a 224 billion yen surplus.

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Charmaine Jacob@IN/CHARMAINEMARIAJACOB@CHARMAINEMJACOB & Lim Hui Jie

KEY POINTS

• The Reuters Tankan survey showed an increase in business optimism among large Japanese manufacturers, while confidence among non-manufacturers fell.

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Charmaine Jacob@IN/CHARMAINEMARIAJACOB@CHARMAINEMJACOB

KEY POINTS

• Asia-Pacific markets were mixed on Tuesday following a slew of political and economic news from the U.S.
• Traders will also look for developments from China’s Third Plenum, where high local government debt levels and a push for advanced manufacturing will be on the agenda.

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Lim Hui Jie

KEY POINTS

• David Roche, president of Quantum Strategy, said in a note on Sunday that Trump would win the presidency, with an increased probability of a Republican clean sweep of both the House of Representatives and the Senate.
• China’s economy grew 4.7% in the second quarter, missing expectations of a 5.1% expansion forecast by Reuters and lower than the 5.3% growth seen in the first quarter.

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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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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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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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