Asian markets started the day up with Nikkei and ASX by 0.6% and 0.4% respectively; Investors anticipate China’s PPI and CPI

Asian-Indexes

In reaction to the unexpectedly better results of the U.S. non-farm payrolls figures last Friday, majority of the markets in Asia were up on Monday’s opening bell.

Last Friday, stocks from Wall Street all finished on the positive zone, and this was followed by the release of non-farm payrolls data on the stateside for last month, figures came in higher than forecasted.

There is a sum of more than 222,000 fresh jobs added for the month of June; Reuter’s only estimated a total of 179,000 jobs. However the growth of wages is not that different compared to last month.

Looking on Asian indexes, the Japanese benchmark Nikkei 225 index advanced as much as 0.57 percent, the Kospi index in South Korea was marginally higher by 0.14 percent and the Australian benchmark ASX 200 index rose on the day as well by 0.41 percent. Meanwhile markets in Thailand were shut due to public holiday.

Investors are currently keeping an eye for the June PPI and CPI in China at 9:30 a.m. Bond markets was also the center of attention after the soaring of bond yields on the previous week. U.S. Treasury yields came in about 2.3385 percent, better compared to last week’s 2.330 percent.

Core machinery orders for the month of May in Japan didn’t meet the expectations of a Reuters survey in a bad way, it declined more than 3.6 percent on month versus the forecasted 1.7 percent rise. In reaction to the released data, the Japanese yen was outperformed by the U.S. dollar at 113.88 yen after immediately recovered around 113.96.

FAQs

Leave a Reply

Your email address will not be published. Required fields are marked *