On Friday morning (29 August, 9:15 AM, GMT+7, Bangkok time), indices in Asia Pacific traded mixed as investors digested inflation data from Japan. The trend was in contrast with movements seen on Wall Street, with the three major indices in the U.S. markets surging.
Tokyo’s core inflation slowed to 2.5% year-on-year in August, down from 2.9% in July, as government fuel subsidies eased utility costs. Despite the slowdown, inflation stayed above the central bank’s 2% target, supporting expectations of potential interest rate hikes.
Separately, the United States will permanently end its tariff exemption on imported packages worth less than $800 starting Friday stateside, shifting to normal duty rates for all global parcels. During a six-month transition, postal shippers can opt to pay a flat fee of $80 to $200 per package, depending on origin. The policy expands the earlier removal of duty exemptions for parcels from China and Hong Kong.
Japan’s NIKKEI fell by 0.3% to 42,699.45. South Korea’s KOSPI declined by 0.17% to 3,190.79, and Australia’s ASX 200 dipped by 0.18% to 8,963.5.
As for stocks in China, Shanghai’s SSEC rose by 0.52% to 3,863.40. Hong Kong’s HSI grew by 0.46% to 25,112.85, and Shenzhen’s SZI added 0.34% to 12,613.62.
The U.S. stock markets edged up on Thursday as the Dow Jones Industrial Average (DJIA) advanced by 0.16% to 45,636.9. NASDAQ gained 0.53% to 21,705.15, and S&P 500 expanded by 0.32% to 6,501.86. VIX slumped by 2.83% to 14.43.
As for commodities, oil prices settled higher on Thursday after the White House reported President Trump’s dissatisfaction over Russia’s missile and drone attacks on Ukraine, which killed at least 21 people in Kyiv. In retaliation, Ukraine targeted and struck two Russian oil refineries using drones. Brent futures increased 57 cents or 0.8% to $68.62 a barrel, and the West Texas Intermediate (WTI) surged 45 cents or 0.7% to $64.60 per barrel.
This morning, Brent futures lost 51 cents or 0.74% to $68.11 a barrel, and the West Texas Intermediate (WTI) decreased 49 cents or 0.76% to $64.11 per barrel.
Meanwhile, gold futures slid by 0.01% to $3,473.8 per Troy ounce.
