(Tiper Stock Exchange) – Asian markets recorded a second day of declines, on the back of weakness on Wall Street due to stronger-than-expected US jobs data, leaving room for further interest rate hikes from the Federal Reserve. Meanwhile, the US Treasury Secretary Janet Yellen started one four day visit to China focused on easing tensions between the world’s two largest economies.
On the macroeconomic frontJapanese household spending fell more than expected in May, while the leading indicator was up for the same month.
On the corporate front, Samsung Electronics announced a likely 96% drop in second-quarter operating profit, largely in line with forecasts, as a glut of chips in the industry drives big losses in the Asian tech giant’s key business. According to rumors, the Chinese authorities will announce a fine of at least 8 billion yuan (about 1.1 billion) to Ant Groupthe finance division of Alibaba, ending a years-long overhaul.
TO Tokyomoves below parity the Nikkei 225which drops with a percentage difference of 1.17%: il Japan’s main stock index thus continuing a negative series, which began last Tuesday, of four consecutive reductions; along the same lines, it yields to sales Shenzhen, which falls by 0.34%. Just below parity Shanghai.
In fractional decline Hong Kong (-0.31%); in the same direction, downwards Seoul (-1.21%). Just below parity mumbai (-0.39%); with the same direction, heavy the Stock Exchange Sydney (-1.58%).
Weak day forEuro against the Japanese currency, which changes hands with a drop of 0.25%. Flat trend forEuro against the Chinese currency, which shows a percentage change of -0.03%. Flattened the performance ofEuro against the Hong Kong dollarwhich trades with a modest +0.13%.
The yield ofJapanese 10-year bond trades 0.44%, while the yield for the Chinese 10-year government bond is equal to 2.68%.
Between macroeconomic variables most important in Asian markets:
Friday 07/07/2023
01:30 Japan: Real household expenditure, monthly (expected 0.5%; previous -1.3%)
Monday 10/07/2023
01:50 Japan: Current Account (previously ¥1,895.1Bn)
03:30 China: Consumption prices, yearly (previously 0.2%)
03:30 China: Production prices, annual (previous -4.6%)
Wednesday 12/07/2023
01:50 Japan: Production prices, monthly (previous -0.7%).