Asia Pacific Markets Rise as Investors Digest PMI Data from Japan and China

On Wednesday morning (3 July, 9:39 AM, GMT+7, Bangkok time), most indices in Asia Pacific increased following comments from the U.S. Federal Reserve Chair Jerome Powell regarding progress made in controlling inflation. Investors also evaluated various data releases from the region.

Japan’s composite PMI dropped to 49.7 in June from 52.6 in the previous month, indicating a decline in private sector activity for the first time in seven months.

Meanwhile, the Caixin services PMI stood at 51.2 in June, down from 54.0 in the prior month, a continuous increase for the 18th consecutive month.


Japan’s NIKKEI gained 0.79% to 40,392.92. South Korea’s KOSPI climbed by 0.27% to 2,788.36, and Australia’s ASX 200 rose by 0.32% to 7,743.

As for stocks in China, Shanghai’s SSEC dropped by 0.35% to 2,986.5. Shenzhen’s SZI declined by 0.73% to 8,748, while Hong Kong’s HSI grew by 0.78% to 17,908.53.


Meanwhile, the US stock markets edged up on Tuesday as the Dow Jones Industrial Average (DJIA) increased by 0.41% to 39,331.85. NASDAQ surged by 0.84% to 18,028.76, and S&P 500 rose by 0.62% to 5,509.01. VIX slumped by 1.55% to 12.03.


As for commodities, oil prices settled lower on Tuesday as traders evaluated the possibility of a conflict between Israel and Hezbollah, and kept an eye on the potential impact of Hurricane Beryl on refineries along the Gulf Coast. Brent futures for September dipped 36 cents or 0.42% to $86.24 a barrel, and the West Texas Intermediate (WTI) for August slid 57 cents or 0.68% to $82.81 per barrel.

This morning, Brent futures gained 34 cents or 0.39% to $86.58 a barrel, and the WTI edged up 31 cents or 0.37% to $83.12 per barrel.

Meanwhile, gold futures climbed by 0.18% to $2,337.5 per Troy ounce.