Equity indices in the Asia-Pacific region ended the week on a lower note with South Korea’s Kospi (-5.7%) facing renewed pressure after regulators announced that increased cash requirements for leveraged ETF purchases will come into effect sooner than originally planned.
Japan’s Nikkei: -2.7%
Hong Kong’s Hang Seng: -1.0%,
China’s Shanghai Composite: -1.6%,
India’s Sensex: -0.4%,
South Korea’s Kospi: -5.7%,
Australia’s ASX All Ordinaries: -0.9%.
South Korea’s President Lee will be meeting with big tech CEOs in San Francisco today.
Flash July PMI readings showed ongoing expansion in manufacturing and services sectors in Australia, Japan, and India.
Japan
Japan is setting up a panel to manage the flow of foreign nationals into the country, fulfilling Prime Minister Takaichi’s campaign pledge.
June National CPI 0.3% m/m (last 0.4%); 1.7% yr/yr (last 1.5%).
June National Core CPI 1.6% yr/yr, as expected (last 1.4%).
Flash July Manufacturing PMI 54.7 (expected 55.0; last 54.8) and flash Services PMI 51.9 (last 52.2)
Australia
flash July Manufacturing PMI 51.7 (last 51.5) and flash Services PMI 53.0 (last 50.5)
Singapore
Q1 URA Property Index 0.5% qtr/qtr, as expected (last 0.9%)
India
flash July Manufacturing PMI 53.9 (last 54.2) and flash Services PMI 53.1 (last 57.4)