FINWIRES · TerminalLIVE
FINWIRES

Japanese Stocks Gain as US-Iran Tensions Ease; May Retail Sales Climb

By

Japanese stocks rose after reports that the US and Iran backed away from a fresh escalation that had threatened the fragile ceasefire underpinning peace talks.

The Nikkei 225 climbed 249 points or 0.4% to open at 69,609.88.

At home, Japan's retail sales rose 1.9% in May, following an upwardly revised April gain, with annual growth surging to 5.3% against a 3% consensus.

The continued monthly increases, powered by wage growth and government cost-relief measures, mark the third consecutive month of expansion, though the figures remain unadjusted for inflation.

Related Articles

Asia

Media Reports: Small Aircraft Hits Citic Tower, Beijing's Tallest Skyscraper

Shanghai Composite^SZSE
Asia

China's Central Bank Plans Overnight Reverse Repo in End-June

The People's Bank of China will increase the overnight reverse repurchase operation in its open market operations on June 29 and June 30.The operation will adopt a fixed interest rate and quantity bidding, according to a Thursday statement.The new rate will be an addition to the PBOC's regular seven-day reverse repo rate, currently at 1.4%, which has served as the main policy benchmark since 2024, Bloomberg reported.Standard Chartered's Becky Liu said the move is a major step toward aligning with U.S. policy rate structures, according to the report. She added that the overnight reverse repo rate is the figure to watch and anything at 1.25% or below would amount to a de facto PBOC rate cut.

Shanghai Composite^SZSE
Asia

Hong Leong Bank Sells 640 Million Ringgit Bonds

Hong Leong Bank (KLSE:HLBANK) issued 640 million ringgit of bonds divided into two tranches, according to a Friday Malaysian bourse filing.The issue comprised 350 million ringgit of 10-year bonds carrying an interest rate of 3.9% per annum, and 290 million ringgit of 12-year bonds carrying a 4% interest rate.The call dates for the two tranches will be June 26, 2031, and June 27, 2033, respectively.The bonds were issued under the lender's multi-currency tier 2 subordinated bond program.

KLSE:HLBANK