Equity indices in the Asia-Pacific region began the week on a mostly higher note.
Japan’s Nikkei: +2.1%,
Hong Kong’s Hang Seng: +1.1%,
China’s Shanghai Composite: +0.7%,
India’s Sensex: +0.1%,
South Korea’s Kospi: +0.7%,
Australia’s ASX All Ordinaries: -0.2%.
China
CPI deflated again in July, causing a deceleration in the year-over-year rate to just 0.5% from 1.0% in June.
July CPI -0.1% m/m (expected 0.2%; last -0.3%); 0.5% yr/yr (expected 0.8%; last 1.0%).
July PPI 3.5% yr/yr (expected 3.9%; last 4.1%
Japan
The Bank of Japan’s latest summary of opinions showed overall hawkishness in sentiment among policymakers.
June Current Account surplus JPY1.40 trln (expected surplus of JPY2.50 trln; last surplus of JPY3.06 trln).
July Bank Lending 5.4% yr/yr (expected 5.7%; last 5.7%).
July Economy Watchers Current Index 45.7 (expected 44.6; last 44.0)
Australia
Reserve Bank of Australia will meet overnight but a rate hike is not expected at this time.
Japanese investors sold the second-largest monthly amount of Australian bonds in June as rising JGB rates prompted repatriation of foreign investments.