Asia Pacific Slightly Rise as US has a Gain Day and Japan’s Higher Unemployment than Expected

This morning (29 Aug), the major Asia Pacific indices slightly rose, led by Hong Kong HSI with a gain of 1.2% to 18,350, followed by China’s Shenzhen SZI by 0.9% to 10,320, while most of the others gained under 0.4%.

Possibly, the gains affected by US trading session yesterday and also the number publication such as a slightly higher-than-expected Japan unemployment at 2.7% in July, increased from 2.5% MoM. The US Treasury Bill and Note Auctions were slightly higher than before after Powell’s comment about further rate hike.

Meanwhile, after some losing days last week, US Futures had a slightly gain as well as the big stocks like AAPL, META and NVDA. S&P 500 gained 0.4%, reaching 4,444, while NASDAQ gained 0.4% as well, reaching 15,100. The Volatility Index or VIX dropped to around 16.5, trending down since last week it was around 18. Furthermore the US Dollar Index or DXY dropped below 104 to 103.8, hinting the slightly weaker dollar on the opening of the week.