What's Affecting Markets Today
Asian Markets weaker
Asia-Pacific markets declined on Friday following Japan’s May core inflation data, which came in slightly cooler than anticipated. Japan’s core inflation rate, excluding fresh food prices, was 2.5%, below the 2.6% expected by economists in a Reuters poll, and compared to April’s 2.2%. The “core-core” inflation, excluding both fresh food and energy prices, fell to 2.1% from April’s 2.4%. Japan’s headline inflation rate rose to 2.8%, up from 2.5% in April.
The Nikkei 225 dipped marginally, while the Topix index gained 0.26%. The yen weakened for the seventh consecutive day to 158.95 against the U.S. dollar. Chief currency diplomat Masato Kanda indicated the government’s readiness to act against currency volatility. The U.S. Treasury placed Japan on its currency “Monitoring List” without designating it a manipulator.
South Korea’s Kospi fell 0.73%, and the Kosdaq lost 0.27%. Mainland China’s CSI 300 and Hong Kong’s Hang Seng index also dipped.
ASX Stocks
ASX 200 - 7,784.2 (+0.2%)
Key Highlights:
Leaders
WGX Westgold Resources Ltd 4.13%
SMR Stanmore Resources Ltd 3.98%
MGH Maas Group Holdings Ltd 3.93%
HSN Hansen Technologies Ltd 3.81%
TPW Temple & Webster Group Ltd 3.67%
Laggards
CU6 Clarity Pharmaceuticals Ltd -9.28%
WA1 WA1 Resources Ltd -7.60%
RPL Regal Partners Ltd -6.82%
VUL Vulcan Energy Resources Ltd -6.33%
MIN Mineral Resources Ltd -6.30%
