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Thursday, April 18, 2024
HomeBusinessAsia-Pacific markets follow Wall Street's lead, with Hong Kong in the lead.

Asia-Pacific markets follow Wall Street’s lead, with Hong Kong in the lead.

A news article reports that Japan’s retail sales in August increased by 7% year-on-year, beating expectations of 6.6%. However, industrial output unexpectedly flattened, although it still managed to beat estimates. The article also mentions that Japan’s core consumer price index for the Ku-area of Tokyo rose by 2.5% in September, marking the third consecutive month of slowing growth and falling below forecasts of 2.6%. Japan’s jobless rate remained unchanged at 2.7% in August, and the country’s 10-year government bond yield stayed at a ten-year high above 0.75% despite the Bank of Japan’s intervention to bring it down.

In addition, the article provides updates on the market conditions in other countries. China’s market was closed, while Hong Kong’s market saw a 2.91% increase. Australia experienced a 0.34% increase, and its private sector credit rose by 0.4% month-on-month in August. The Philippines’ producer prices rose by 0.5% year-on-year in August, and Singapore’s Domestic Supply Price Index dropped 3.7% year-on-year in the same month. The article also mentions upcoming events such as the Reserve Bank of Australia’s monetary policy meeting and China’s official September PMIs.

Furthermore, the article briefly covers the performance of US stock indexes, which ended higher as investors analyzed US economic data and Treasury yields fell. Oil prices declined due to expectations of increased supply from Russia and Saudi Arabia. Finally, the article provides updates on currency exchange rates and reveals that US stock futures remained steady, with the major averages projected to record significant monthly losses.

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