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WallStreet Forex Robot 3.0
Seeking Alpha 2025-01-31 06:21:29

Asia markets rise as investors assess Japan's positive economic data; eyes on U.S. PCE data

Asia-Pacific markets rise on Friday, tracked a rise in U.S. equities, as investors digested the latest batch of corporate earnings results. On Thursday, Trump reiterated plans to impose a 25% tariff on Canada and Mexico starting February 1 but did not set a firm date for China, though he noted tariffs on Chinese goods are forthcoming. Markets are now waiting for concrete announcements on these measures for more clarity. Markets in Taiwan, Hong Kong and China are closed for the Lunar New Year holidays. Japan ( NKY:IND ) rose 0.46% to around 39,570, while the broader Topix Index gained 0.3% to 2,790 on Friday, marking a third consecutive day of gains for Japanese shares as investors responded positively to strong economic data. The Japanese yen strengthened to around 154 per dollar on Friday, on track to end both the week and the month with gains. On Thursday, BOJ Deputy Governor Ryozo Himino stated that the central bank plans to keep hiking rates if the economy and inflation align with expectations. Data released on Friday showed Tokyo’s core inflation accelerated to an 11-month high of 2.5% in January, reinforcing a hawkish outlook for BOJ policy. Additionally, retail sales exceeded expectations, industrial production rebounded, and the jobless rate unexpectedly fell . Japan's housing starts declined by 2.5% year-over-year in December 2024, quickening from a 1.8% decrease in the previous month but beating market estimates of a 3.9% fall. China ( SHCOMP ) market closed, the offshore yuan held its decline around 7.29 per dollar after U.S. President Donald Trump stated that he was still planning to impose new tariffs on China. Hong Kong ( HSI ) market closed. India ( SENSEX ) rose 0.59% to 77,216 in early deals on Friday, gaining for the fourth straight session and hitting their highest level in three weeks, supported by consumer durables, realty, and auto sectors. Traders are anticipating the release of the Union Budget amid hopes of reducing personal income tax for individuals and increasing infrastructure investments. Australia ( AS51 ) rose 0.45% to close at 8,532 on Friday, reaching new all-time highs, driven by strong performances in the mining and technology sectors. The Australian dollar stabilized around $0.622 on Friday but was still on track for a sharp weekly decline. Producer inflation also eased to 3.7% in Q4, compared to 3.9% in Q3 . In the U.S., on Thursday, all three major indexes ended higher amid mixed earnings results, while bets on the Fed’s policy outlook remained loosely unchanged following the release of key economic data U.S. stock futures gained on Friday, buoyed by a 3% jump in Apple’s after-hours trading following strong quarterly results: Dow +0.20% ; S&P 500 +0.25% ; Nasdaq +0.53% . Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: Australia's Q4 producer inflation rise 0.8% Q/Q, misses estimates Japan's Dec retail sales exceeds forecast, industrial output rebounds; unemployment rate unexpectedly drops Australia reports Q4 inflation data below forecasts; core inflation fall to three-year low of 3.2% China's factory activity unexpectedly contracts in Jan, growth in services sector slows significantly China unveils measures to promote index investments

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