Equity indices in the Asia-Pacific region had a poor showing on Tuesday with South Korea’s Kospi (-10.0%) being decimated while Japan’s Nikkei (-3.6%) also fell sharply from its record high.
Japan’s Nikkei: -3.6%,
Hong Kong’s Hang Seng: -1.8%,
China’s Shanghai Composite: -1.4%,
India’s Sensex: -1.2%,
South Korea’s Kospi: -10.0%,
Australia’s ASX All Ordinaries: -0.5%.
South Korea’s top chipmakers are expected to announce their domestic investment plans on Thursday.
MSCI is expected to announce its decision about a potential downgrade to Indonesia‘s market status tomorrow.
Japan
The Japanese yen edged up off this year’s low against the dollar after it was reported that Japan’s Finance Minister Katayama held a lengthy phone call with Treasury Secretary Bessent.
flash June Manufacturing PMI 54.9 (expected 54.5; last 54.5) and flash June Services PMI 51.8 (last 50.0). April BoJ Core CPI 2.7% yr/yr (last 2.8%)
South Korea
June Consumer Confidence 106.6 (last 106.1)
Australia
flash June Manufacturing PMI 51.2 (last 50.7) and flash June Services PMI 49.9 (last 48.7)
Hong Kong
May CPI 0.0% m/m (last -0.1%); 2.0% yr/yr (last 1.7%)
Singapore
May CPI 0.7% m/m (last -0.3%); 1.8% yr/yr (expected 2.0%; last 1.8%) and Core CPI 1.4% yr/yr (expected 1.6%; last 1.4%)
India
flash June Manufacturing PMI 54.5 (last 55.0) and flash June Services PMI 57.3 (last 59.8)