Reserve Bank of India August 6, 2023
Puneet Paranipet | AFP | Getty Images
Asia-Pacific markets were mixed on Thursday after U.S. stock benchmarks fell overnight, as investors assessed Japanese trade data and awaited an Indian interest rate decision.
this Dow Jones Industrial Average fell 0.60%, while S&P 500 Index It fell 0.77% on Wednesday. High-tech Nasdaq Index down 1.05%. All indexes had risen earlier in the session Nvidia Waiting for big tech stocks to fall.
Earlier this week, global stock markets and currencies plummeted after the Bank of Japan raised interest rates to their highest level since 2008 and U.S. employment data was weaker than expected.
On Thursday, Asian investors will assess Japan’s trade data and the Reserve Bank of India’s interest rate decision.
The Reserve Bank of India is expected to keep interest rates at 6.5% for the ninth consecutive time.
Japan’s current account surplus in June was 1.533 trillion yen ($10.2 billion), lower than the 1.789 trillion yen expected by economists polled by Reuters.
Japan’s Nikkei 225 Index The Topix indexes hovered between gains and losses, eventually falling 0.3% each.
Released by the Bank of Japan Summary of comments The July monetary policy meeting showed that some BOJ members proposed further interest rate hikes.
“Assuming that the price stability target will be achieved in the second half of fiscal year 2025, the central bank should raise the policy interest rate to the neutral interest rate level by then,” the summary said.
The neutral interest rate level seems to be at least around 1%, and the central bank needs to raise policy interest rates in a timely and gradual manner.
However, Uchida ShinichiThe Bank of Japan’s deputy governor said on Wednesday that the bank needs to maintain monetary accommodation at current policy rates given the recent shock to the country’s stock price and exchange rate.
Japanese technology investor SoftBank Group said in a report statement on wednesday It will buy back up to 500 billion yen ($3.4 billion) of stock as part of an effort to boost shareholder returns. Its shares fell more than 3.3% in trading.
Semiconductor equipment manufacturers laser technology Nikkei rises 22.6% after upbeat performance financial performance The year ends in June. The company’s net sales increased by 39.7%, and operating income increased by 30.6%.
Mainland China CSI 300 and Hong Kong Hang Seng Index Both reversed losses and rose 0.4% and 0.7% respectively.
Cathay Pacific is Hong Kong’s largest airline. said on wednesday It will buy 30 Airbus A330-900 wide-body aircraft, with options for another 30 Airbus A330-900 wide-body aircraft, with options for another 30.
Korean Cospi It fell 0.5%, while the small-cap Kosdaq index was flat.
Australian S&P/ASX 200 Index down 0.20%.
—CNBC’s Brian Evans and Hakyung Kim contributed to this report.
