Asia-Pacific markets saw mostly declines on Tuesday, with investors closely monitoring August pay and spending data released from Japan and the return of mainland Chinese markets. While Japan's real household spending fell in August, wages rose, potentially presenting a challenge for the Bank of Japan's inflation goals.
SINGAPORE — Asia-Pacific markets mostly fell on Tuesday, with investors watching August pay and spending data out from Japan and as mainland Chinese markets return to trade.fell 1.9% year-on-year in August in real terms, a softer fall compared to the 2.6% decline expected by a Reuters poll of economists.
stood at 23,169, pointing to a stronger open compared to the HSI's close of 23,099.78. Monday's close was the first time the HSI had retaken the 23,000 mark since February 2022.Japan's August real household spending falls, but wages riseHowever, real monthly income in Japan rose 2% in real terms and 5.6% in nominal terms to come in at 574,334 yen.
Analysts polled by LSEG expected an operating profit of 11.456 trillion Korean won for the quarter ended Sept. 30. Samsung's revenue for the quarter was expected to hit 81.96 trillion won , according to LSEG estimates.JPMorgan believes U.S. equities currently look stretched after a strong recent rally, which could contribute to both higher concentration risk and potential for momentum reversal.
JPMorgan added that the U.S. is currently trading extremely expensive versus its peers, and that the region's profitability versus the rest of the world might be peaking as well.A pump jack in Midland, Texas, US, on Thursday, Oct. 3, 2024.Goldman Sachs cuts 12-month recession odds to 15%
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