Equity indices in the Asia-Pacific region ended the week on a mixed note with Japan’s Nikkei (+2.5%) and South Korea’s Kospi (+3.6%) reaching fresh records.
Japan’s Nikkei: +2.5%,
Hong Kong’s Hang Seng: +0.7%,
China’s Shanghai Composite: -0.7%,
India’s Sensex: -1.4%,
South Korea’s Kospi: +3.6%,
Australia’s ASX All Ordinaries: +1.7%.
Japan
Japan’s Tokyo CPI decelerated in May despite higher energy prices.
May Tokyo CPI 1.4% yr/yr (last 1.5%) and Tokyo Core CPI 1.3% yr/yr (expected 1.5%; last 1.5%).
April Industrial Production 0.8% m/m (expected -0.4%; last -0.4%), April Retail Sales 2.1% yr/yr (expected 1.4%; last 1.4%),
April jobs/applications ratio 1.18, as expected (last 1.18),
April Unemployment Rate 2.5% (expected 2.7%; last 2.7%).
April Housing Starts 11.4% yr/yr (expected 14.7%; last -29.3%) and Construction Orders -32.3% yr/yr (last -14.4%).
May Household Confidence 33.6 (expected 32.3; last 32.2)
Japan’s Finance Minister Katayama warned that a currency intervention is possible at any time with the yen back near this year’s low against the dollar in the 160 area.
China
The People’s Bank of China called on banks to increase lending amid ongoing weakness in credit issuance.
South Korea
April Retail Sales -3.6% m/m (last 1.9%),
April Industrial Production -0.7% m/m (expected 0.3%; last 0.6%); 1.5% yr/yr (expected 2.2%; last 3.9%).
April Service Sector Output -1.0% m/m (last 1.5%)
Singapore
April Bank Lending SGD908.4 bln (last SGD902.3 bln)