Equity indices in the Asia-Pacific region began the week on a higher note.
—Equity Markets—
Japan’s Nikkei: +0.5%
Hong Kong’s Hang Seng: +1.0%
China’s Shanghai Composite: +1.2%
India’s Sensex: +1.0%
South Korea’s Kospi: +1.0%
Australia’s ASX All Ordinaries: +1.4%
Chinese chipmaker CXMT had a strong debut in Shanghai, soaring nearly 500% on its first day of public trading.
Japan
June Corporate Services Price Index 3.2% yr/yr (last 3.4%).
May Leading Index 116.5 (expected 116.8; last 116.1)
The approval rating of Japan’s Prime Minister Takaichi has fallen below 60% for the first time since she took office. There are some concerns about long-term debt levels and doubts that the big-boned economic plan will deliver promised results.
The Bank of Japan is not expected to announce a rate hike later this week, but it is likely to affirm its commitment to more hikes in the coming months.
Singapore
June Industrial Production -7.2% m/m (last 6.9%); 7.2% yr/yr (last 17.8%
The Monetary Authority of Singapore tightened its policy unexpectedly.
China
June Industrial Profit 18.7% YTD (last 18.8%)
Hong Kong
June trade deficit HKD52.0 bln (last deficit of HKD44.2 bln).
June Imports 45.4% m/m (last 42.0%) and Exports 53.4% m/m (last 40.8%)