Equity indices in the Asia-Pacific region retreated on Tuesday with South Korea’s Kospi (-4.9%) revisiting Friday’s low before narrowing its loss.
Japan’s Nikkei: -2.1%,
Hong Kong’s Hang Seng: -0.5%,
China’s Shanghai Composite: -1.3%,
India’s Sensex: -0.1%,
South Korea’s Kospi: -4.9%,
Australia’s ASX All Ordinaries: -0.4%.
Samsung was among the laggards after its preliminary results for Q2 were not as strong as the market had expected.
The World Bank expects China’s GDP to decelerate to 4.4% in 2026 with another dip to 4.3% expected in 2027.
Japan
Japan sold 30-yr JGBs to solid demand, resulting in a slight dip in the 30-yr JGB yield (3.98%) while yields on other tenors inched higher.
May Household Spending 3.7% m/m (expected 1.4%; last 1.6%); -0.4% yr/yr (expected -2.3%; last -0.5%).
May Overall Wage Income 3.2% yr/yr (expected 3.4%; last 3.6%)
May Overtime Pay 2.9% yr/yr (last 4.8%).
May Leading Index 116.8 (expected 116.9; last 116.1) and Coincident Indicator 0.4% m/m (last 1.3%)