Nikada
Asia-Pacific equity markets mostly rise on Tuesday, as caution dominated sentiment ahead of key US inflation data and the first US presidential debate between Joe Biden and Donald Trump this week.
Japan (NKY:IND) +0.95%. The Japanese yen steadied around 159.3 per dollar after threatening to breach the 160 level that previously led Japanese authorities to intervene in the currency markets.
Data also showed that the services’ producer price index for Japan rose 2.5% in May, slowing from a 2.7% increase in April.
Investors now look ahead to more domestic economic reports this week, including retail sales, industrial production and unemployment data for May, as well as Tokyo’s inflation figures for June.
China (SHCOMP) -0.64%. Chinese stocks plunged to four-month lows this week as foreign investors continued to pull capital out of the country while awaiting clearer signs of economic recovery.
Investors now look ahead to upcoming industrial profits and manufacturing and services PMI figures in China for updates on the state of the economy.
Hong Kong (HSI) -0.13%.
India (SENSEX) +0.31%. India’s current account posted a surplus of USD 5.7 billion in Q1, shifting from a USD 1.3 billion gap in Q4 of 2024, marking the 1st surplus since Q2 of 2021, boosted by a surge in services exports.
Traders continued to monitor consultations about the country budget 2024-2025 focusing on the GDP growth outlook.
Australia (AS51) +1.36%. As investors cheered data showing consumer confidence in Australia improved in June, logging a 1.7% rise to 83.6 from the previous month.
Investors look ahead to Australia’s monthly inflation figures later this week for more clues on the monetary policy path.
In the U.S., on Monday, all three major indexes ended mixed as markets braced for key PCE inflation data and comments from several Fed officials due this week to assess the monetary policy outlook.
U.S. stock futures rose on Tuesday after the major averages ended mixed in the previous session: Dow +0.17%; S&P 500 +0.15%; Nasdaq +0.23%.
Focus will also be on geopolitics, with the first US presidential debate on Thursday and the initial round of voting in the French election over the weekend.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).