chachamal
Asia-Pacific stocks were mostly higher on Wednesday, tracking gains on Wall Street overnight, as major U.S. technology stocks pushed the S&P 500 and Nasdaq to new closing records.
Japan (NKY:IND) +1.26%. Japan PMI revised down to 49.4 Preliminary data for June.
China (Shanghai Composite Index) -0.49%. China’s services sector activity expanded for the 18th consecutive month, although at the slowest pace in eight months, a private survey showed. Meanwhile, composite activity continued its growth momentum for the eighth consecutive month but decelerated to a two-month low.
Hong Kong (HSI) +1.08%. In Hong Kong, retail sales fell for a third consecutive month in May amid a surge in outbound travel, a stronger local currency and a higher base last year.
India (SENSEX) +0.64%. Strong domestic macroeconomic data continued to boost market sentiment, with final data showing that India’s services sector growth rate was revised upward to 60.5 in June, following strong growth in factory activity the day before.
Australia (AS51) +0.28%. Australia’s retail sales growth hit a four-month high in May, while private sector activity maintained expansionary momentum in June.
In the United States, all three major stock indexes closed higher on Tuesday as investors reacted to stronger-than-expected employment data and latest comments from Federal Reserve Chairman Jerome Powell.
U.S. stock index futures were steady on Wednesday after the S&P 500 and Nasdaq hit new record highs in the previous session: Dow Jones rose 0.05%; S&P 500 -0.03%; Nasdaq – 0.03%.
Investors now look to Wednesday’s latest Federal Open Market Committee minutes and more employment data, as well as Friday’s non-farm payrolls report for further guidance.
Elsewhere, rising odds of a second term for Donald Trump as president continued to support U.S. Treasury yields, which are seen as inflationary due to tax cuts, tighter immigration policies and higher import tariffs.
On the geopolitical front, tensions remain high in the Middle East, with Israel continuing its siege of Gaza and ordering Palestinians to evacuate Khan Younis ahead of a possible attack.
currency: (Japanese yen: U.S. dollar), (RMB: U.S. dollar), (Australian dollar: U.S. dollar), (Indian rupee: U.S. dollar), (Hong Kong dollar: U.S. dollar), (New Zealand dollar: U.S. dollar).
