tadamichi
Japan (NKY:IND) -0.13%. The Japanese yen eased toward 156 per dollar, remaining under pressure as investors look ahead to Japan’s first-quarter gross domestic product report this week.
China (SHCOMP) -0.39%. China’s consumer prices rise for third month; producer prices drop more than expected
New tariffs on Chinese EVs, other sectors expected next week – report
China’s vehicle sales grew by 9.3% from the prior year to 2.36 million in April 2024, after a 9.9% increase in the previous month, according to data from the China Association of Automobile Manufacturers.
Chinese banks extended CNY 0.73 trillion in new yuan loans in April 2024, missing market estimates of CNY 1.2 trillion and declining sharply from CNY 3.1 trillion in March.
The offshore yuan depreciated to around 7.24 per dollar, responding to key economic data from China and the looming threat of US tariffs.
Hong Kong (HSI) +0.46%.
India (SENSEX) -0.43%. Uncertainty persisted surrounding the final result of India’s election, prompting foreign investors to continue selling their portfolios.
Australia (AS51) +0.01%. Australian April business confidence 1 (prior 1).
Australia’s budget (due Tuesday) will assume inflation to return to 2 to 3% by end 2024.
In the U.S., on Friday, all three major indexes mixed, as recent data brought down expectations for Fed interest rate cuts.
U.S. stock futures rose on Monday as investors geared up for key US inflation data this week for insights on the Federal Reserve’s monetary policy path: Dow +0.10%; S&P 500 +0.12%; Nasdaq +0.22%.
Week ahead: In the US, investors will closely monitor key economic indicators, including inflation, producer price, and retail sales data, alongside speeches by several Fed officials.
Additionally, attention will be on earnings reports from major corporations.
Meanwhile, China’s economic performance will be in focus with the release of data on industrial production, retail sales, fixed asset investments, the house price index, and the unemployment rate for April.
On Sunday, Israel deployed tanks into eastern Jabalia in the northern Gaza Strip following a night of intense aerial and ground bombardments, worsening tensions in the Middle East.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).
More on Asia:
#AsiaPacific #markets #mixed #traders #react #Chinas #hotterthanexpected #inflation #data