Asia-Pacific markets were a real mixed bag on Friday, as investors juggled fresh China data with the simmering tensions between Israel and Iran! The White House is even weighing in, with a decision on potential US military backing for Israel expected within two weeks – talk about high stakes!
Over in mainland China, the CSI 300 index stayed flat, while Hong Kong’s Hang Seng actually nudged up 0.56%. This cool composure came after the People’s Bank of China played it steady, keeping its key loan prime rates unchanged. Sometimes, no news is good news!
Japan’s markets, the Nikkei 225 and Topix, faced a bit of a wobble, dipping slightly. The culprit? Core inflation climbed to a sizzling 3.7% in May, its highest since January 2023, even outpacing economists’ forecasts. Seems like prices are on the move!
But not everyone was feeling the pinch! South Korea’s Kospi index climbed a cheerful 0.65%, with its small-cap buddy Kosdaq also enjoying a nice bump. Go Korea! Meanwhile, Australia’s S&P/ASX 200 took a tumble, dropping 0.61% in a choppy session.
And looking ahead, US stock futures dipped in early Asian hours, clearly feeling the jitters from the ongoing Middle East developments. After a Juneteenth holiday closure, traders are certainly keeping a close eye on the global stage!
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