Equity indices in the Asia-Pacific region had a mostly lower showing on Wednesday with South Korea’s Kospi (-4.5%) sliding toward its low from Friday.
—Equity Markets—
Japan’s Nikkei: -1.9%
Hong Kong’s Hang Seng: -0.6%
China’s Shanghai Composite: -0.4%
India’s Sensex: +0.1%
South Korea’s Kospi: -4.5%
Australia’s ASX All Ordinaries: +0.4%
Taiwan Semiconductor Manufacturing reported a 30% yr/yr increase in its revenue for May.
Japan
May PPI 0.9% m/m (expected 0.5%; last 2.8%); 6.3% yr/yr (expected 5.6%; last 5.3%)
Japan’s Ministry of Finance sold 30-yr JGBs to weak demand, but the cash market held up well despite the poor sale.
Japan’s largest banks plan to launch live stablecoin transactions in fiscal 2026/27.
China
May CPI -0.1% m/m (expected -0.2%; last 0.3%); 1.2% yr/yr (expected 1.3%; last 1.2%).
May PPI 3.9% yr/yr, as expected (last 2.8%)
There was some ongoing focus on China’s reported plan to spend nearly $300 bln on building data centers over the next five years.
Australia
April Building Approvals -3.4% m/m, as expected (last -10.5%); 10.2% yr/yr, as expected (last 9.0%).
April Private House Approvals -1.0% m/m, as expected (last 0.5%)