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- The au Jibun Bank Japan Services PMI was revised downward to 49.4 in June 2024 from flash data of 49.8, a reversal from 53.8 in May, also marking the first drop in services activity since August 2022 as all sub-sectors shrank except information & communication. New orders were broadly flat after increasing in the prior 21 months.
- The au Jibun Bank Japan Composite PMI was revised lower to 49.7 in June 2024 from a flash reading of 50.0, much lower than May’s 52.6, indicating the first fall in the private sector in seven months as a slight reduction in services activity outweighed a marginal increase in manufacturing output.
- The Japanese yen held around 161.8 per dollar, hovering close to its lowest levels since 1986 and keeping markets wary of another government intervention.
- The Nikkei 225 Index jumped 1.3% to above 40,602 on Wednesday, with Japanese shares rising for the fourth straight session.
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