Morning Bid: Asian markets face tough act to follow

Morning Bid: Asian markets face tough act to follow

Asian markets could face a challenging start to the week as they try to surpass the strong gains from the previous week. These gains were driven by potential stimulus in China, Japan’s largest-ever minimum wage hike, and the hope that the global economy can avoid a recession.

Chinese stocks will need to exceed last week’s 4.5% gain in the CSI 300, which was the index’s biggest weekly jump since November. The Hang Seng and the Nikkei 225 also saw gains of 4.4% and 1.4% respectively, while MSCI’s index of Asia Pacific shares outside of Japan advanced 2.5%.

The Bank of Japan’s decision to move away from its long-standing monetary stimulus policy and Japan’s implementation of the largest minimum wage hike in history have caused some uncertainty in the markets. Market participants are also closely watching the Chinese economy for signs of recovery.

In the United States, the second-quarter earnings season is in full swing, and upcoming high-profile results are expected to provide insight into global demand, particularly in China. Companies such as Apple, Amazon, Western Digital, Caterpillar, Starbucks, and Qualcomm will be reporting their earnings. Additionally, earnings from Marriott International, MGM Resorts International, and Host Hotels & Resorts will shed light on the state of global travel and tourism demand.

Key economic indicators in the U.S. next week include manufacturing and services PMI, job openings, private payrolls, jobless claims, and planned layoffs. These indicators will set the stage for the highly anticipated July employment report on Friday.

On Monday, key developments that could impact the markets include China’s Caixin manufacturing PMI, Japan’s consumer confidence, housing starts, and unemployment data for June, Australia’s July manufacturing PMI and June building approvals, and South Korea’s import/export growth report for July.

Overall, the Asian markets face a potentially volatile week as they navigate through various economic factors and earnings reports.

About News Team

Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

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