Japan’s core machinery orders fall 0.6% in May from the previous month
Japan’s core machinery orders fell 0.6% in May from the previous month on a seasonally adjusted basis, according to data released by the country’s Cabinet Office on Monday.
While that came in slightly better than the 1.5% contraction estimated by economists in a Reuters poll, it followed April’s decline of 9.1%.
Core machinery orders by the domestic private sector, which exclude volatile items like ships and electric power, are regarded as a key gauge of capital expenditure and reflect business confidence in buying more machinery and equipment.
On a year-on-year basis, core orders grew 4.4%, beating the 3.4% rise forecasted, LSEG data showed.
Meanwhile, the total value of machinery orders received by 280 manufacturers operating in Japan increased by 3.8% in May from the month before on a seasonally adjusted basis, government data showed.
— Amala Balakrishner
Singapore’s economy grows 4.3% in second quarter, beating expectations
Singapore’s economy grew at 4.3% year over year in the second quarter of the year, accelerating from 3.9% in the first quarter and beating expectations.
The advance figure was higher than the 3.5% forecasted by Reuters.
On a quarter-on-quarter basis, Singapore’s GDP grew by 1.4%, a turnaround from the 0.5% contraction last quarter.
Read the full story, here.
— Lim Hui Jie
Asia-Pacific markets open mixed
Asia-Pacific markets started the day mixed Monday.
As of 8.10 a.m. Singapore time, Japan’s Nikkei 225 benchmark lost 0.33% while the broader Topix index ticked down 0.21%.
In South Korea, the Kospi index was up 0.22% while the small-cap Kosdaq moved up 0.19%.
Over in Australia, the S&P/ASX 200 benchmark was down 0.1%.
— Amala Balakrishner
Here are the opening calls for the day
Good morning from Singapore.
Investors will be keeping a close watch on a slew of data points today, including India’s inflation reading for June and Singapore’s second quarter growth rate.
Economists polled by Reuters expect India’s consumer price inflation reading to come in at 2.5% year on year, from 2.82% the month before.
Meanwhile, Singapore’s economy is forecast to grow by 3.5% year on year in the second quarter, compared to 3.9% in the previous quarter.
Japan’s benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 39,345 while its counterpart in Osaka last traded at 39,500, against the index’s Friday close of 39,569.68.
Futures for Hong Kong’s Hang Seng index stood at 24,088, pointing to a weaker open compared to the HSI’s last close of 24,139.57.
Australia’s S&P/ASX 200 was also set to start the day lower with futures tied to the benchmark at 8,548, compared with its last close of 8,580.10.
— Amala Balakrishner
U.S. futures slip after Trump announces 30% tariffs on the EU and Mexico
Fri, Jul 11 20254:08 PM EDT
Major averages all close week lower
The major stock averages all fell on Friday, closing lower for the week.
On Friday, the Dow Jones Industrial Average lost 279.13 points, or 0.63%, and ended at 44,371.51. The S&P 500 shed 0.33%, finishing at 6,259.75, while the Nasdaq Composite shed 0.22% to settle at 20,585.53.
— Lisa Kailai Han