Asia-Pacific markets are looking for investors to secure valuable investment from the US employmentwaiting for the report and households coming from Japan spendingmostly fell as they focused on their information. In Hong Kong, the city’s markets are closed today due to Typhoon Yagi.
According to data from Statistics Japan, average monthly household expenditure for July 2024 was 290,931 yen ($2,031.35), up 3.3 percent in nominal terms from the previous year.
The average monthly household income was 694,483 yen in July, up 8.9 percent in nominal terms and 5.5 percent in real terms compared to the previous year.
Weak spending report, analysts say, comes as Bank of Japan interest rate hikecould limit its options, but this could be offset by strong price appreciation numbers on Thursday.
Following the data release, Japan NikkeiThe 225 index is 0.6 percent, broad-based TOPIXThe index lost 0.97 percent of its value.
South Korea KOSPİindex fell by 0.87 percent and small-cap KOSDAKdecreased by 2.31 percent. Despite this, Australia’s S&P/ASX 200index increased by 0.46 percent. Mainland China CSI 300It traded 0.27 percent below the horizontal line.
In the US, all three major indexes fell as investors dumped riskier assets and concerns about the outlook for the US economy grew. S&P 500fell 0.3 percent for the third consecutive day Dow JonesThe Industrial Average lost 0.54 percent. NasdaqThe composite gained 0.25 percent after rising as much as 1.2 percent earlier in the session.
Hibya News Agency
