What's Affecting Markets Today
Asian Markets Mostly Lower
Asia-Pacific markets mostly declined on Friday as investors awaited a key U.S. jobs report and processed Japan’s household spending data. In July, Japan’s household spending rose just 0.1% year-over-year, well below the 1.2% growth forecast by economists and reversing a 1.4% drop in June. The average household monthly expenditure was 290,931 yen ($2,031.35), a 3.3% nominal increase, while average household income rose 8.9% in nominal terms and 5.5% in real terms.
The weaker spending data may limit the Bank of Japan’s ability to raise interest rates, although Thursday’s strong wage growth could provide some flexibility.
Japan’s Nikkei 225 edged slightly higher, but the broader Topix fell 0.36%. South Korea’s Kospi dropped 0.78%, and the small-cap Kosdaq declined 1.9%.
In Hong Kong, markets were closed for the day as the Hong Kong Observatory issued a typhoon signal due to Super Typhoon Yagi. Mainland China’s CSI 300 hovered just below the flatline, reflecting cautious market sentiment across the region.
ASX Stocks
ASX 200 - 8,024.7 (+0.5%)
Key Highlights:
Leaders
OBM Ora Banda Mining Ltd (+5.56%)
SPR Spartan Resources Ltd (+4.84%)
ADT Adriatic Metals Plc (+3.89%)
CU6 Clarity Pharmaceuticals Ltd (+3.79%)
RDX REDOX Ltd (+2.69%)
Laggards
SIQ Smartgroup Corporation Ltd (-4.01%)
HLS Healius Ltd (-3.98%)
WHC Whitehaven Coal Ltd (-3.44%)
WA1 WA1 Resources Ltd (-3.26%)
LTR Liontown Resources Ltd (-3.20%)
