- July 5, 2024
- By: Admin1_blog
- Asia Market, Indices
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.
Asia-Pacific markets were largely lower on Friday, with Japan’s Nikkei 225 paring gains after crossing the 41,000 mark and hitting fresh record highs.
The Nikkei saw a volatile session and was last down 0.29%. The broad-based Topix also faltered from record highs to drop 0.59%.
Japan’s household spending for May unexpectedly dipped 1.8% in real terms compared to the same period last year. Economists polled by Reuters had estimated a 0.1% rise.
Household spending data is a key metric for the Bank of Japan’s to assess its goal of realizing a “virtuous cycle” of rising wages and prices.
Average spending per household in May was 290,328 yen ($1,799.28), while average monthly income stood at 500,231 yen, up 6.4% in nominal terms and 3% higher in real terms from the previous year.
Investors will also be assessing retail sales numbers out from Singapore later today.
| TICKER | COMPANY | NAME | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|---|
| .N225 | Nikkei 225 Index | *NIKKEI | 40845.83 | -67.82 | -0.17 |
| .HSI | Hang Seng Index | *HSI | 17832.64 | -195.64 | -1.09 |
| .AXJO | S&P/ASX 200 | *ASX 200 | 7818.8 | -13 | -0.17 |
| .SSEC | Shanghai | *SHANGHAI | 2929.98 | -27.59 | -0.93 |
| .KS11 | KOSPI Index | *KOSPI | 2860.15 | 35.21 | 1.25 |
| .FTFCNBCA | CNBC 100 ASIA IDX | *CNBC 100 | 10121.25 | -23.18 | -0.23 |
South Korea’s Kospi was 1.38% higher, and the small-cap Kosdaq rose 0.91%. The benchmarks are the only major indexes in positive territory in Asia.
Heavyweight Samsung Electronics on Friday estimated that its second quarter operating profit will surge almost 15-fold, mainly due to a rebound in semiconductor prices on the back of the artificial intelligence boom.
Samsung shares climbed 2.25%, hitting their highest level since January 2021.
Hong Kong Hang Seng index dropped 1.09%, while mainland China’s CSI300 was down 0.96%.
Australia’s S&P/ASX 200 dipped 0.18%.
Overnight in the U.S., markets were closed for the Independence Day holiday, but futures were little changed ahead of Friday’s trading session.
Nasdaq 100 futures were down 0.1%, while S&P 500 futures were trading marginally below the flatline. Dow Jones Industrial Average futures were 0.05% up.
Source : cnbc
