Equity indices in the Asia-Pacific region ended the week on a mixed note.
Japan’s Nikkei: -0.1%,
Hong Kong’s Hang Seng: +0.5%,
China’s Shanghai Composite: +1.0%,
India’s Sensex: -0.6%,
South Korea’s Kospi: -0.6%,
Australia’s ASX All Ordinaries: -0.1%.
China
China reported a larger-than-expected trade surplus for July, though the total was down from June’s record level of $125 bln.
July trade surplus $112.50 bln (expected surplus of $108.60 bln; last surplus of $125.62 bln).
July Imports 27.5% yr/yr (expected 27.9%; last 36.0%) and Exports 23.9% yr/yr (expected 22.2%; last 27.0%)
Chinese AI models from Alibaba and Moonshot are becoming more expensive.
President Trump implemented a 15% tariff on polysilicon products from China and announced a price floor.
Japan
June Household Spending -6.4% m/m (expected -3.1%; last 3.7%); -3.3% yr/yr (expected 0.8%; last -0.4%).
June Leading Index 116.4 (expected 116.5; last 116.4) and Coincident Indicator 0.3% m/m (expected 0.4%; last -0.2%)