On Monday (17 August, 9:38 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific advanced as market participants assessed a fresh economic indicator from Japan and movements in the U.S. stock markets last week.
Japan’s latest GDP figures indicated the economy expanded by 1.1% on an annualized basis for the April to June quarter, according to official data. This reading was below economists’ projections of 2% growth and lagged the previous quarter’s upwardly revised 1.9% increase. The slower momentum was attributed in part to subdued household consumption and restrained capital investment, despite robust external demand.
Meanwhile, China is scheduled to release key data, including retail sales and industrial production. Bloomberg’s surveys suggest analysts expect modest improvement in consumer spending for July, while factory activity may have lost some pace.
In the United States, the S&P 500 has recently closed out three straight weeks of gains, reaching new record levels last week in the aftermath of a strong corporate earnings season. These advances occurred despite persistent geopolitical tensions in the Middle East and ongoing debate over the sustainability of the AI rally. With a lighter economic calendar in the days ahead, investors are focused on the upcoming Federal Reserve meeting minutes set for release on Wednesday.
Japan’s NIKKEI climbed by 0.06% to 68,753.86. South Korea’s KOSPI jumped by 2.42% to 6,977.94, while Australia’s ASX 200 slid by 0.27% to 9,090.40.
As for stocks in China, Shanghai’s SSEC rose by 0.36% to 3,941.30. Shenzhen’s SZI grew by 0.46% to 14,420.18, and Hong Kong’s HSI gained 1.40% to 25,468.15.
The U.S. stock markets edged down on Friday as the Dow Jones Industrial Average (DJIA) dropped by 0.20% to 53,732.41. NASDAQ fell by 0.28% to 26,729.16, and S&P 500 lost 0.17% to 7,785.76. VIX slumped by 2.60% to 14.25.
As for commodities, oil prices settled higher on Friday as concerns about shipping security intensified following attacks on tankers in the Strait of Hormuz and a lack of progress in peace talks between the U.S. and Iran. Brent crude concluded the session at $88.52 per barrel, an increase of $1.45 or 1.67%. U.S. West Texas Intermediate crude closed at $82.40, gaining $1.15 or 1.42%.
The increase extended into Monday, with investors remaining attentive to continued risks of potential supply interruptions through the key waterway. This morning, Brent futures added 69 cents, or 0.78%, to $89.21 per barrel, and the WTI futures surged 53 cents, or 0.64%, to $82.93 per barrel.
Meanwhile, gold futures increased by 0.36% to $4,453.10 per Troy ounce.
