Equity indices in the Asia-Pacific region began the week on a mostly higher note while South Korea’s markets were closed for a holiday.
—Equity Markets—
Japan’s Nikkei: +0.7%
Hong Kong’s Hang Seng: +1.3%
China’s Shanghai Composite: +1.4%
India’s Sensex: -0.4%
South Korea’s Kospi: CLOSED
Australia’s ASX All Ordinaries: -0.4%
Alphabet is planning to sell Australia dollar-denominated debt.
China
China’s growth figures for July were shy of expectations
July Industrial Production 4.5% yr/yr (expected 5.0%; last 5.3%),
July Fixed Asset Investment -6.7% yr/yr (expected -6.2%; last -5.7%),
July Retail Sales 0.6% yr/yr (expected 1.5%; last 1.0%),
July Unemployment Rate 5.2% (expected 5.1%; last 5.0%)
Japan
Japan’s flash Q2 GDP report (0.3% qtr/qtr; 0.5% expected) was also underwhelming, hurt by high prices and lower business spending.
JGBs retreated despite the miss since the market remains on watch for more rate hikes from the Bank of Japan.
flash Q2 GDP 0.3% qtr/qtr (expected 0.5%; last 0.5%); 1.1% yr/yr (expected 2.0%; last 1.9%).
Q2 GDP Capital Expenditure -1.2% qtr/qtr (expected 0.4%; last -1.0%),
Q2 GDP External Demand 0.5% qtr/qtr (expected 0.3%; last 0.3%).
Q2 GDP Private Consumption 0.0% qtr/qtr (expected 0.5%; last 0.5%).
Q2 GDP Price Index 2.6% yr/yr (expected 2.4%; last 3.2%).
June Industrial Production 1.9% m/m (expected 1.3%; last 0.1%) and Capacity Utilization 4.1% m/m (last 0.1%)
South Korea
President Trump scaled back annual joint U.S.-South Korea military exercises.
July trade surplus $30.39 bln (expected $30.32 bln; last $36.09 bln).
July Imports 26.5% yr/yr, as expected (last 30.0%) and Exports 63.0% yr/yr (expected 62.8%; last 70.7%)
Singapore
July trade surplus SGD10.72 bln (last surplus of SGD13.87 bln).
July non-oil Exports -0.3% m/m (last -8.8%); 24.2% yr/yr (last 24.4%)
New Zealand
July Performance of Services Index 50.6 (last 50.9).
July Electronic Card Retail Sales 1.3% m/m (last -1.3%); 3.4% yr/yr (last 1.3%). July FPI 0.1% m/m (last 0.6%)