Equity indices in the Asia-Pacific region began the week on a broadly lower note with South Korea’s Kospi (-8.3%) deepening last week’s reversal from a record high.
Japan’s Nikkei: -3.9%,
Hong Kong’s Hang Seng: -1.3%,
China’s Shanghai Composite: -1.7%,
India’s Sensex: -1.0%,
South Korea’s Kospi: -8.3%,
Australia’s ASX All Ordinaries: HOLIDAY.
There were some renewed concerns about the direction of the conflict between Iran and the U.S., reflected by a rebounding price of oil.
China
China’s President Xi made a State visit to North Korea.
Japan
Japan’s Q1 GDP was left unrevised at the headline level (0.5% qtr/qtr) while GDP Deflator was revised down to 3.2% from 3.4%.
Q1 GDP 0.5% qtr/qtr, as expected (last 0.3%),
Q1 GDP Annualized 1.8% qtr/qtr (expected 2.1%; last 0.7%).
Q1 GDP Price Index 3.2% yr/yr (expected 3.4%; last 3.4%),
Q1 GDP Capital Expenditure -0.7% qtr/qtr (expected 0.3%; last 0.1%),
Q1 GDP Private Consumption 0.3% qtr/qtr, as expected (last 0.1%),
Q1 GDP External Demand 0.3% qtr/qtr, as expected (last 0.0%).
April Current Account surplus JPY4.21 trln (expected JPY3.26 trln; last JPY3.90 trln),
May Bank Lending 5.7% yr/yr (expected 5.6%; last 5.4%),
May Economy Watchers Current Index 43.6 (expected 41.9; last 40.8)