Mixed opening in Asia-Pacific markets as investors await key U.S. and China data.

From CNBC: 2024-07-07 19:50:09

Asia-Pacific markets opened mixed on Monday as investors await key economic data from the U.S. and China. Election results in France signal a hung parliament, with the New Popular Front coalition leading but falling short of a majority. Central bank decisions from South Korea, New Zealand, and Malaysia are anticipated this week. France’s left-wing coalition unexpectedly thwarts far-right advance in parliamentary run-off vote, while Japan’s real wages fall for a 26th straight month. Data indicates real wages fell 1.4% year on year in May, despite a nominal increase of 1.9%. South Korea’s Kospi trades close to flatline, with Samsung Electronics gaining despite union strike. National Samsung Electronics Union, with 28,000 members, demands performance-based bonus improvements and extra annual leave, potentially leading to workers’ strike participation. Hong Kong Hang Seng index drops 0.46%, while Australian S&P/ASX 200 slips 0.36%. In the U.S., S&P 500 and Nasdaq Composite reach new highs, with hopes for Federal Reserve rate cuts rekindled by latest jobs report. The Dow Jones Industrial Average adds 0.17%.



Read more at CNBC: U.S., China CPI, South Korea rate decision