Asian markets on course to end week on a positive note → Asian markets poised to close week on a strong note
Asian Markets Surge as U.S. Retail Sales Outpace Expectations
New York’s record‑setting earnings pushed the Nasdaq and S&P 500 higher, while robust retail data reversed May’s decline and signaled a healthy U.S. economy.
Key Market Highlights (signing 0230 GMT)
- Nikkei 225 fell 0.3 % at 39,778.85.
- Hang Seng Index rose 1.0 % to 24,741.54.
- Shanghai Composite advanced 0.4 % to 3,530.73.
- Euro/dollar gained to $1.1628.
- Dollar/yen slipped to 148.45.
- West Texas Intermediate stayed flat at $67.55 per barrel.
- Dow 30 gained 0.5 % to 44,484.49.
Technology and Commodity Reactions
High‑tech leaders spurred gains in Hong Kong and Tokyo, while a steady oil market kept commodity prices unchanged.
Rising Grain Prices Threaten Japan’s Election Outlook
Rice prices doubled for the second June on a year‑on‑year basis, amplifying cost‑of‑living concerns that could pressure Prime Minister Shigeru Ishiba to resign ahead of the upper‑house vote.
Strategic Outlook for Japan’s Economy
While Ishiba’s stance against tariff escalation drew public applause, his reluctance to negotiate partial rebates or modest defense spending deficits highlighted a preference for defiance over diplomacy, according to market analysts.
