On Friday morning (10 January, 9:22 AM, GMT+7, Bangkok time), most indices in Asia Pacific exhibited a downward trend, with investors digesting November pay and household spending figures from Japan.
Japan’s real household spending for November witnessed a 0.4% year-on-year decrease, which was less severe than the 0.6% drop forecasted by economists surveyed by Reuters. This decline marked an improvement from the 1.3% decrease recorded in October.
The average real income per household in November reached 514,409 yen ($3,252.98), reflecting a 0.7% increase compared to the preceding year.
In China, Reuters reported that the People’s Bank of China (PBOC) declared a temporary suspension of treasury bond purchases due to a scarcity of bonds. The central bank indicated that purchases would recommence based on market demand and supply conditions within the government bond market.
Japan’s NIKKEI decreased by 0.69% to 39,332.11. South Korea’s KOSPI slid by 0.19% to 2,517.04, and Australia’s ASX 200 contracted by 0.57% to 8,281.9.
As for stocks in China, Shanghai’s SSEC fell by 0.41% to 3,198.28. Hong Kong’s HSI dipped by 0.18% to 19,207.16, and Shenzhen’s SZI declined by 0.51% to 9,924.78.
Meanwhile, the US stock markets were closed on Thursday in observance of former president Jimmy Carter’s funeral. However, traders are poised to analyze labor statistics scheduled for release on Friday, particularly the nonfarm payroll figures for December.
Economists anticipate a rise of 155,000 in nonfarm payrolls, marking a decline from the unexpectedly high surge of 227,000 in November but aligning closely with the average over the past four months. Projections also suggest that the unemployment rate will remain unchanged at 4.2%.
As for commodities, oil prices settled higher on Thursday, fueled by cold weather conditions affecting regions in the US and Europe, thereby amplifying the need for winter fuel. Brent futures gained 76 cents or 1% to $76.92 a barrel, and the West Texas Intermediate (WTI) rose 60 cents or 0.82% to $73.92 per barrel.
This morning, Brent futures grew 19 cents or 0.25% to $77.11 a barrel, and the WTI increased 17 cents or 0.23% to $74.09 per barrel.
Meanwhile, gold futures climbed 0.12% to $2,693.9 per Troy ounce.
