Equity indices in the Asia-Pacific region climbed on Wednesday with South Korea’s Kospi (+3.8%) closing at its best level in nearly a week.
Japan’s Nikkei: +3.7%,
Hong Kong’s Hang Seng: +0.2%,
China’s Shanghai Composite: +1.5%,
India’s Sensex: +0.2%,
South Korea’s Kospi: +3.8%,
Australia’s ASX All Ordinaries: +1.0%. S&P/ASX 200 +82 +0.9% to close at ATH
China
July RatingDog Services PMI 50.4 (expected 53.7; last 54.1)
China’s RatingDog Services PMI (50.4) decelerated in July, reflecting a near standstill in growth in the services sector.
Japan
June Overall Wage Income 3.4% yr/yr, as expected (last 3.3%) and Overtime Pay 2.8% yr/yr (last 2.8%).
July Services PMI 51.2 (expected 51.9; last 52.2)
Hong Kong
July Manufacturing PMI 51.0 (last 52.0)
India
July Services PMI 53.3 (expected 53.1; last 57.4)
Reserve Bank of India kept its key repo rate unchanged at 5.25% for the fourth consecutive meeting as expected and maintained a neutral stance amid a weakening rupee.
– The RBI also held the SDF rate at 5.0% and the MSF rate at 5.50%
– The annual inflation rate surged to 4.38% in June 2026, the highest level since Dec 2024 and rising above the RBI’s 4% target for first time in 17 months, though it remained within the central bank’s 2%–6% tolerance band.
– RBI projected I inflation to average 5.0%, down from previous estimate of 5.1%. Inflation is forecast at 4.7% in Q2, 5.9% in Q3, and 5.5% in Q4.
Australia
July AIG Manufacturing Index -19.6 (last -16.8) and AIG Construction Index -40.6 (last -38.1).
July Services PMI 53.6 (expected 53.0; last 50.5)
New Zealand
New Zealand reported strong employment figures for Q2, though an increase in the participation rate to 70.7% from 70.4% resulted in a higher unemployment rate (5.6% from 5.4%).
Q2 Labor Cost Index 0.7% qtr/qtr (expected 0.6%; last 0.5%); 2.1% yr/yr (last 2.0%).
Q2 Employment Change 0.5% qtr/qtr (expected 0.1%; last 0.2%),
Q2 Unemployment Rate 5.6% (expected 5.4%; last 5.4%) and Participation Rate 70.7% (last 70.4%)
Singapore
June Retail Sales 1.0% m/m (last -2.2%); 4.0% yr/yr (last 2.9%)