Equity indices in the Asia-Pacific region finished the week on a lower note with South Korea’s Kospi (-5.5%) deepening its reversal from a record high while the won weakened to a 17-year low against the dollar.
—Equity Markets—
Japan’s Nikkei: -1.3%
Hong Kong’s Hang Seng: -1.2%
China’s Shanghai Composite: -0.7%
India’s Sensex: -0.2%
South Korea’s Kospi: -5.5%
Australia’s ASX All Ordinaries: -0.7%
.
The Reserve Bank of India left its policy rate at 5.25%, as expected, and announced that foreign institutional investors will be exempt from capital gains taxes on sales or transfer of government securities.
Indonesia will be exempt from some U.S. tariffs, according to its Economic Ministry.
Japan
April Household Spending 1.6% m/m (expected 0.8%; last -1.3%); -0.5% yr/yr (expected -1.5%; last -2.9%).
April Overall Wage Income 3.5% yr/yr (expected 3.1%; last 3.1%), and Overtime Pay 4.2% yr/yr (expected 3.2%; last 3.1%).
April Leading Index 115.9 (expected 114.4; last 114.0) and Coincident Indicator 1.1% m/m (expected -1.7%; last 0.3%)
South Korea
April Current Account surplus $28.29 bln (last surplus of $37.93 bln)
South Korea’s President Lee will visit France during the G-7 summit between June 15 and 17
Singapore
April Retail Sales 0.3% m/m (last 3.4%); 5.4% yr/yr (last 4.6%)
India
Q4 GDP 7.8% (expected 7.2%; last 7.8%)