logo
Japan's wholesale inflation slows for 4th month in July

Japan's wholesale inflation slows for 4th month in July

CNA8 hours ago
TOKYO :Japan's annual wholesale inflation slowed for the fourth straight month in July, data showed on Wednesday, underscoring the central bank's view that upward price pressure from raw material costs will dissipate.
The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 2.6 per cent in July from a year earlier, data showed, slowing from the previous month's 2.9 per cent increase. It compared with a median market forecast for a 2.5 per cent rise.
The yen-based import price index fell 10.4 per cent in July from a year earlier, following a revised 12.2 per cent drop in June, the Bank of Japan (BOJ) data showed.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Pakistan finance minister eyes cut to key policy rate from 11%
Pakistan finance minister eyes cut to key policy rate from 11%

CNA

time28 minutes ago

  • CNA

Pakistan finance minister eyes cut to key policy rate from 11%

ISLAMABAD :Pakistan's finance minister said on Wednesday that there was more room for the central bank to cut the country's key policy rate down from 11 per cent. "We are hopeful of progress in terms of the policy rate going south," Mohammed Aurangzeb said at an event in Islamabad. The next policy rate announcement is due on September 15, according to the State Bank of Pakistan's calendar. The central bank left its key interest rate unchanged at 11 per cent on July 30, going against analyst expectations. In a Reuters poll ahead of the policy rate announcement, all 15 analysts said they expected the bank to ease, with nine forecasting a 50 basis-point cut, four predicting a deeper 100 basis-point reduction and two projecting a smaller 25 basis-point cut.

Hedge funds pile back into Japan stocks, add shorts on South Korea, Morgan Stanley says
Hedge funds pile back into Japan stocks, add shorts on South Korea, Morgan Stanley says

CNA

timean hour ago

  • CNA

Hedge funds pile back into Japan stocks, add shorts on South Korea, Morgan Stanley says

HONG KONG :Global hedge funds ramped up risk appetite and added exposure to Japanese equities ahead of the Nikkei's surge to an all-time high as tariff worries eased, while stepping up short positions in South Korea, a Morgan Stanley note showed. Hedge funds boosted gross exposure to Japan "in relatively large size" last week, with long bets outpacing short positions, according to a Morgan Stanley prime brokerage team note sent to clients on Tuesday, following a July pullback in positions. A fund manager survey by BofA showed that within Asia, Japan continues to be the most favoured market by a significant margin. Japan's benchmark Nikkei rose above 43,000 for the first time on Wednesday, with the broader Topix index also hitting an all-time high. Uncertainty over Japanese exports to the United States has eased after Tokyo reached a framework deal with Washington on tariffs in July, helping to push the market higher. The U.S. government last week promised to amend a presidential executive order to remove overlapping tariffs on Japanese goods, Japan's trade negotiator said. Morgan Stanley said hedge funds built positions across Japan's technology and industrial sectors. Shares of Nintendo soared to a historic high this week on robust sales of the Switch 2, while tech firm SoftBank Group also raced to an all-time high on optimism around artificial intelligence. In other Asian markets, hedge funds were buying Taiwan and Australia but increased bearish positions toward Korea last week, Morgan Stanley said. Hedge funds' net allocations to South Korea at the beginning of August sat just under peak levels of the past decade, as investors significantly increased their long and short bets in the market since the country lifted short sale ban, Morgan Stanley said in a separate note. Korea is the best performing Asian market this year, up more than 30 per cent.

Thai central bank cuts key rate by 25 bps, as expected
Thai central bank cuts key rate by 25 bps, as expected

CNA

timean hour ago

  • CNA

Thai central bank cuts key rate by 25 bps, as expected

BANGKOK :Thailand's central bank lowered its key interest rate by a quarter point on Wednesday, its fourth cut in 10 months as it looks to support a sluggish economy grappling with negative inflation and the impact of U.S. tariffs. The Bank of Thailand's monetary policy committee unanimously voted to reduce the one-day repurchase rate by 25 basis points to 1.50 per cent, the lowest in more than two years. The BOT had held the key rate at its June meeting following back-to-back cuts at reviews in February and April. It had also cut rates in October last year. Twenty-three of 28 economists in a Reuters poll had predicted a quarter-point reduction this week. The other five had expected no rate change. Among those who provided a longer-term outlook on rates in the poll, 19 of 26 saw the policy rate at 1.25 per cent by the end of 2025, seven said 1.50 per cent and one forecast 1.00 per cent.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store