Asia-Pacific markets mostly fell on Friday as investors brace for a crucial jobs report from the U.S. and digested household spending data from Japan.
The Nikkei 225 index lost another 265.62 points, or 0.7%, to 36,391.47, its fourth straight losing day.
Japan’s household spending data for July rose 0.1% in real terms from the previous year, compared to a 1.2% rise expected from economists polled by Reuters, and a reversal compared to a 1.4% fall in June.
Data from the country’s statistics bureau said the average household monthly expenditure for July 2024 was 290,931 yen ($2,031.35), up 3.3% in nominal terms from the previous year.
Average household monthly income came in at 694,483 yen in July, 8.9% higher in nominal terms and up 5.5% in real terms from the previous year.
The weak spending report could constrain the Bank of Japan’s options to raise rates, although this may be offset by the strong wage growth numbers from Thursday.
7-Eleven’s parent company Seven & i Holdings fell 1.73%, after it rejected a takeover offer from Canadian convenience store operator Alimentation Couche-Tard
In Hong Kong, the city’s markets will be shut today after the Hong Kong observatory issued a typhoon signal due to Super Typhoon Yagi.
The observatory expects to downgrade the storm signal at 12.40 p.m. Hong Kong time, meaning the markets are expected to be closed for the day. According to the Hong Kong Exchange, there will be no trading for the day should the Number 8 signal be downgraded after noon.
In other markets
In Shanghai, the CSI 300 shed 26.41 points, or 0.8%, to 3,231.35.
In Taiwan, the Taiex index ballooned 247.48 points, or 1.2%, to 21,435.19.
In Singapore, the Straits Times Index dipped 4.19 points, or 0.1%, to 3,454.47.
In Korea, the Kospi index dropped 31.22 points, or 1.2%, to 2,554.28.
In New Zealand, the NZX 50 fell 63.15 points, or 0.5%, to 12,615.52.
In Australia, the ASX 200 surged 31.01 points, or 0.4%, to 8,013.38.
