Market Update Summary
BANGKOK — Asian shares and U.S. futures were mixed on Tuesday following the Labor Day holiday closure on Wall Street.
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Tokyo’s Nikkei 225: Down 0.3% to 66,170.34, despite a revision in economic growth for the April-June quarter to 1.4%, up from the earlier estimate of 1.1%. Stronger business investment was noted, but overall investment contracted by 0.9%.
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Economists warn that the boost from consumption policy measures is fading, leading to accelerating inflation as firms pass on increased costs.
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U.S. Dollar: Fell to 153.47 yen from 154.34 yen, amid speculation about Japanese government intervention on the yen’s strength.
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South Korea’s Kospi: Up 1% to 7,060.79, led by gains in semiconductor stocks like Samsung Electronics (up 2.9%) and SK Hynix (up 5.3%).
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Hong Kong’s Hang Seng: Dropped 0.4% to 25,312.10, while the Shanghai Composite rose 0.1% to 3,938.33. China’s exports reportedly surged 25% year-on-year in August.
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Australia’s S&P/ASX 200: Decreased by 0.8% to 8,937.90.
U.S. Market Performance (last Friday):
- S&P 500: Down 0.4%
- Dow Jones: Down 0.5%
- Nasdaq: Down 0.3%
Important Economic Reports:
- Thursday: U.S. Producer Price Index (PPI) for August
- Friday: Consumer Price Index (CPI) for August
Energy Markets:
- Brent crude rose by 71 cents to $97.74 per barrel due to ongoing tensions in the U.S.-Iran situation.
- U.S. crude increased by 1.8% to $93.13 per barrel.
Currency Market:
- The euro was steady at $1.1624.
Contributors: AP Business Writers Chan Ho-him and Yuri Kageyama.
