Equity indices in the Asia-Pacific region ended the week on a broadly higher note, encouraged by Thursday’s rebound on Wall Street.
Japan’s Nikkei: +2.8%,
Hong Kong’s Hang Seng: +1.9%,
China’s Shanghai Composite: +1.1%,
India’s Sensex: +2.3%,
South Korea’s Kospi: +4.6%,
Australia’s ASX All Ordinaries: +1.9%.
Japan
April Industrial Production 0.5% m/m (expected 0.8%; last -0.4%) and Capacity Utilization -0.8% m/m (last -1.2%)
The Bank of Japan is expected to announce its next rate hike next week while the Reserve Bank of Australia is expected to announce a policy hold.
Bank of Korea Governor Shin said that interest rates need to be raised “before it is too late.”
China
May New Loans CNY520.0 bln (expected CNY450.0 bln; last -CNY10.0 bln),
May Outstanding Loan Growth 5.5% yr/yr, as expected (last 5.6%),
May total social financing CNY2.03 trln (expected CNY1.87 trln; last CNY620.0 bln)
New Zealand
May Business PMI 49.9 (last 50.4)
India
May CPI 3.93% yr/yr (expected 4.0%; last 3.5%)