From Investing.com: 2024-06-09 23:09:47

Asian stocks had a mixed day, with Japanese markets rising on slightly improved GDP data while other Asian markets fell due to concerns over U.S. interest rates. Trading volumes were low due to holidays in China, Hong Kong, and Australia. Wall Street’s previous fall also influenced regional markets, but U.S. futures were steady in Asian trade. The European Union elections and a shift towards right-wing parties also impacted risk sentiment.

Japanese stocks saw a 0.7% increase as first-quarter GDP data showed a smaller contraction than initially estimated. However, weak consumption still posed challenges for the Japanese economy, raising questions about the BOJ’s ability to tighten policy. The upcoming BOJ meeting will likely address these concerns.

Other Asian markets suffered losses, with South Korea’s index dropping by 0.7% and another Asian index losing about 1%. On the other hand, India’s index was expected to rise after events in the 2024 general elections caused volatility last week. Investors remained cautious ahead of the Fed meeting and upcoming inflation data release.



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