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Malaysia's Retail Sales Rise 7.2% in May

Malaysia's retail trade sales increased 7.2% year over year to 71.9 billion ringgit in May, according to data from the Department of Statistics Malaysia released on Friday.The growth pace was faster than the 6.3% expansion recorded in the previous month and beat the Trading Economics forecast of 6% growth.The sector's performance was driven primarily by retail sales in non-specialized stores, which grew 8.2% to 28 billion ringgit.Total wholesale and retail trade sales combined reached 171.3 billion ringgit, reflecting a year over year increase of 11%.

FTSE Bursa Malaysia KLCI

International34d ago

Malaysia's Unemployment Rate Holds Steady at 3% in May

Malaysia's unemployment rate held steady at 3% in May, according to data released by the Department of Statistics Malaysia on Friday.The reading was in line with Trading Economics' forecast of 3% and was unchanged from April.The number of unemployed persons rose 0.3% month over month to 513.4 thousand.Total employment increased 0.1% from a month earlier to 16.8 million, while the labour force rose 0.1% to 17.3 million.Employment growth continued to be driven by the services sector, particularly wholesale and retail trade, accommodation and food and beverage services, and information and communication.

FTSE Bursa Malaysia KLCI

International34d ago

HKU Lifts Hong Kong 2026 GDP Growth Forecast to Up to 4%

The University of Hong Kong raised its 2026 economic growth forecast for Hong Kong by 1 percentage point to a range of 3.5% to 4.0%, according to its quarterly macroeconomic forecast released Thursday.The university's APEC Studies Programme estimated Hong Kong's economy grew 4.2% in the second quarter, slowing from 5.9% growth in the first quarter as inventory accumulation moderated.The unemployment rate is expected to edge down to 3.6% in the third quarter from 3.7% in the second quarter.Meanwhile, consumer price inflation is forecast to accelerate to 2.5% as higher energy costs are gradually passed on to consumers.The report said economic growth in the second half of the year will be driven mainly by domestic demand, supported by improving consumer sentiment, a rebound in asset prices, and investment related to the Northern Metropolis development.

Hang Seng

International34d ago

Australian Utilities, Agriculture Sectors Likely to Face Negative Impact From Potential Emergence of El Nino Phenomenon, Fitch Says

Australian utilities and agriculture are among the most exposed sectors if the El Nino climate phenomenon emerges, while thermal coal producers could be one of the few clear beneficiaries, Fitch Ratings said in a report on Thursday.Hotter and drier conditions associated with El Nino would increase water stress, weaken agricultural output, raise peak electricity demand and heighten bushfire risk, although impacts would vary by region, Fitch noted.The drier conditions can reduce water storage levels and inflows, which may weaken revenue and increase water utilities' operating expenditure through greater use of desalination plants and chemical treatment, the credit ratings agency added.Hotter weather could also increase electricity demand, putting pressure on spot prices and grid stability while raising bushfire-related risks for transmission and distribution assets, Fitch said. However, for regulated utilities, regulatory frameworks in place will limit most of the credit impact through revenue cost recovery in subsequent years.El Nino typically brings lower rainfall, weaker pasture growth, lower crop yields and irrigation stress. Farm output could fall, pressuring food supply chains and increasing food price volatility. Australian wheat and barley production volumes fell by an average 28% and 18%, respectively, in El Nino years, according to Australian Bureau of Agricultural and Resource Economics and Sciences and BOMThermal coal producers could be one of the few clear beneficiaries. Drier conditions generally lower the risk of weather-related disruptions and could lead to higher supply volumes. Hotter weather across Asia and lower hydropower availability could also support seaborne thermal coal demand and lift prices, benefiting Australian exporters.Credit effects are likely to be limited for sectors with contractual protections or strong operational resilience, Fitch said.

ASX 200

International34d ago

Japan's Producer Price Inflation Quickens to 7.1% in June

Japan's producer price index (PPI) rose 7.1% year over year in June, according to preliminary data released by the Bank of Japan on Friday.The reading was higher than the consensus forecast of a 6.8% increase by Investing.com, and was faster than a 6.6% increase in the previous month.On a month-on-month basis, corporate goods prices increased 0.4% from the prior month, decelerating from the 1.1% expansion in May.

Nikkei 225

International34d ago

Australia's Accelerating Rental Growth Drives Severe Affordability Constraints, Cotality Says

A rapid acceleration of national rents in Australia is driving rental affordability limitations amid a severe supply deficit, Cotality said in a Thursday report.While rental growth moderated slightly to a 1.6% increase in the June quarter, the annual pace of growth accelerated to 5.9% from 5.7% in the first three months of the year, bringing the median national dwelling rent to AU$705 per week, according to the report.National rents have skyrocketed almost 41% during the past five years to add an average of AU$204 per week to household rental obligations. In contrast, median rents rose by just AU$55 per week, or more than 12%, over the the previous five-year period through June 2021."We are seeing a profound shift in affordability across the market," said Cotality Australia's Head of Research Gerard Burg. "In March this year, the typical household was allocating roughly one-third of their gross income to rent, compared to around 27% just five years ago."The ongoing rental growth is mainly driven by a severe lack of available stock across Australia, with the June quarter's national dwelling vacancy rate of 1.6% remaining below the five-year average of 1.8%.The report further showed that total rental listings at the end of June sat nearly 17% below the five-year average and were "exceptionally weak" by historical standards. All capital cities in Australia currently have a vacancy rate below 2%, and while Sydney remains the country's most expensive capital city, Perth and Brisbane substantially narrowed the gap in June."We are approaching a threshold where rental affordability acts as an increasing constraint on further growth, particularly in regional areas where lower median incomes mean households are spending upwards of 35% of their income on rent," Burg said.

ASX 200

International34d ago

New Zealand Central Bank Lifts Rates to Limit Easing of Conditions, Rabobank Says

New Zealand's central bank raised interest rates by 25 basis points to 2.50% at its July meeting, partly to prevent further easing in financial conditions and support the Kiwi dollar, Rabobank said Thursday.The country's economic activity continued to gain strength through the March quarter, with growth expanding beyond agriculture into goods-producing and services sectors.Business and consumer confidence also improved after the Middle East tensions receded. However, geopolitical risks remain high due to recent strikes and US President Trump's comment that the ceasefire is "over."RaboResearch maintained its outlook that the Reserve Bank of New Zealand will raise the Official Cash Rate three more times by the end of first quarter next year, taking it to 3.25%. This represents a slightly faster pace of rate hikes than the market is currently expecting, the firm added.The Monetary Policy Committee said future interest rates decisions will be guided by how price-setting behavior and excess productive capacity impact medium-term inflation pressures.

^NZ50

International34d ago

Federal Reserve Watch for July 9: Williams Still Sees Slowdown in Energy Prices This Year

New York Fed President John Williams (voter) said that he expects energy prices to slow this year even as tensions in the Middle East have picked up but would not comment on how the FOMC could act at its next meeting at the end of the month.Recent comments of note:(July 8) Minutes of the June 16-17 FOMC minutes showed considerable divisions among the participants regarding the path of monetary policy, most hinging on evolution of inflation. Many participants expected the recent elevated inflation is due to temporary factors that will dissipate and could allow the FOMC to maintain or even lower the target range, which others suggested that inflation will remain elevated and require rate increases.(July 6) Fed Governor Christopher Waller (voter) said that forward guidance is useful in some cases, including as tool in place of actual rate actions, but requires flexibility when conditions evolve differently from was expected.(July 1) Fed Chair Kevin Warsh (voter) repeated that the FOMC will work to maintain price stability and said that prices are too high but again avoided giving any forward guidance.(June 26) Minneapolis Fed President Neel Kashkari (voter) said that he expects that rising inflation will necessitate a rate increase at some point this year.

International34d ago

Daily Roundup of Key US Economic Data for July 9

Home resales slowed to a 4.09 million seasonally adjusted annual rate in June from a 4.19 million rate in May.Sales were still up 2.8% from June 2025.Three of the four US regions posted month-over-month sales declines in June, with an increase in the Northeast the only exception. There were higher sales in three of the four regions compared with a year earlier, with sales in the Northeast unchanged over the same period."The back-and-forth in monthly home sales activity, driven by mild fluctuations in mortgage rates, shows how sensitive home buyers are to affordability conditions," said NAR Chief Economist Lawrence Yun. "However, job gains -- more than half a million since the beginning of the year -- will continue to provide support for the housing market."Homes were on the market for 28 days on average, down from 29 days in the previous month but up from 27 days a year ago.The supply of homes for sale fell to a 1,560,000 level from 1,570,000 in May but was up 1.3% from a year ago. The median sales price rose by 1.8% year-over-year to a record high.Initial jobless claims decreased by 2,000 to 215,000 in the week ended July 4, trimming the four-week moving average by 3,750 to 218,750, a second straight decrease.Insured claims rose by 8,000 to 1.814 million in the week ended June 27.Natural gas stocks rose by 61 billion cubic feet to 2.983 trillion cubic feet in the week ended July 3, down 0.5% from a year earlier but 6.6% higher than the seasonal average for the current week over the previous five years.

International35d ago

June US Existing Home Sales Decline Unexpectedly, Median Price Record High

The pace of US existing home sales fell by 2.4% to a 4.09 million seasonally adjusted annual rate in June from an upwardly-revised 4.19 million annual rate in May, compared with an expected increase to a 4.20 million rate in a survey compiled by Bloomberg as of 7:30 am ET, data from the National Association of Realtors released Thursday showed.Total sales were still up 2.8% from a year earlier."The back-and-forth in monthly home sales activity, driven by mild fluctuations in mortgage rates, shows how sensitive home buyers are to affordability conditions," said NAR Chief Economist Lawrence Yun. "However, job gains -- more than half a million since the beginning of the year -- will continue to provide support for the housing market."Sales of single-family homes were down 2.4%, while condominium sales fell by 2.7%.Sales declined in three of the four regions of the country, rising only in the Northeast region. It rose in three out of four regions when compared with a year earlier but held steady in the Northeast region.Homes remained on the market a median of 28 days, down from 29 days in May but up from 27 days a year ago.The supply of homes for sale decreased to 1.56 million homes in June from 1.57 million in May but was up 1.3% from a 1.54 million level a year ago.The month supply on market increased to 4.6 months from 4.5 months in May but was unchanged from a year ago.The median home price increased to a record high $440,600 from $431,200 level in May, up 1.8% from $432,700 level one year ago."The median home price has reached an all-time high," Yun said. "Even so, affordability is better than a year ago because wage growth is outpacing home price growth. However, progress on long-term housing affordability could be hampered if inventory growth continues to stall."The monthly existing home sales report from the National Association of Realtors measures sales of single-family and multi-family homes for resale at the time of closing, including the number of existing homes available and the median sales price. A strong reading is a positive sign for mortgage lenders and related consumer product companies.

International35d ago

June US Existing Home Sales 4.09 Million Annual Rate Vs. 4.20 Million Expected, Prior 4.19 Million Rate

International35d ago

US Initial Jobless Claims Decline in Week Ended July 4

US initial jobless claims fell to a level of 215,000 in the week ended July 4 from an upwardly revised 217,000 level in the previous week, compared with expectations for a level of 217,000 in a survey of analysts compiled by Bloomberg.The four-week moving average declined by 3,750 to 218,750 after decreasing by 2,000 to a level of 222,500 in the previous week.Insured jobless claims increased by 8,000 to 1,814,000 in the week ended June 27.The weekly initial jobless claims data released by the US Labor Department measures filings for unemployment insurance benefits. Initial filings are reported through the previous Saturday, while those already on benefits are measured with a one-week lag.A decrease in claims suggests a stronger labor market, a positive for the US economy and stocks, but a negative for bonds as it suggests wage growth that could lead to inflation.

International35d ago

US Initial Jobless Claims 215,000 Vs. Expected 217,000, Prior 217,000

International35d ago

US Dollar Rises Early Thursday Ahead of Jobless Claims, Existing Home Sales

The US dollar rose against its major trading partners early Thursday, except for a decline versus the yen, ahead of the release of weekly jobless claims data at 8:30 am ET, existing home sales data at 10:00 am ET, and natural gas stocks data at 10:30 am ET.New York Federal Reserve President John Williams is due to speak at 9:00 am ET, and Dallas Fed President Lorie Logan is scheduled to appear at 1:30 pm ET.A quick summary of foreign exchange activity heading into Thursday:EUR/USD fell to 1.1423 from 1.1428 at the Wednesday US close but was above a level of 1.1407 at the same time Wednesday morning. There are no Eurozone data on Thursday's schedule. The next European Central Bank meeting is scheduled for July 23.GBP/USD fell to 1.3394 from 1.3403 at the Wednesday US close but was above a level of 1.3344 at the same time Wednesday morning. UK consumer sentiment declined in July, according to data released earlier Thursday. The next Bank of England meeting is scheduled for July 30.USD/JPY fell to 162.4778 from 162.4794 at the Wednesday US close and 162.4918 at the same time Wednesday morning, but was on an upward trend early Thursday. Japanese machine tool orders growth accelerated in June, according to data released overnight. The next Bank of Japan meeting is scheduled for July 30-31.USD/CAD rose to 1.4181 from 1.4165 at the Wednesday US close and 1.4171 at the same time Wednesday morning. There are no Canadian data on Thursday's schedule. The next Bank of Canada meeting is scheduled for July 15.

$EUR/USD$GBP/USD$USD/CAD$USD/JPY

International35d ago

Market Chatter: South Korea's National Pension Service's Stock Holdings Valuation Jumps by KRW200 Trillion in Q2

The stock holdings valuation of South Korea's National Pension Service (NPS) jumped by 200 trillion won in the second quarter, owing to the primary index Korea Composite Stock Price Index's (Kospi) prolonged rally, Pulse News reported Wednesday, citing financial data provider FnGuide.The value of the NPS' stakes of at least 5% in 270 listed firms increased to 486.01 trillion won as of Monday, July 6, from 296.44 trillion won in March-end, indicating a gain of 63.9%. The increase surpassed the Q1 gain by over 100 trillion won, the report said.Holdings in Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) accounted for about 151 trillion won, or nearly 80%, of the total gain, according to the report.Shares of SK Hynix jumped nearly 6% at market close.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^KOSDAQKOSPIKRX:000660KRX:005930

International35d ago

Taiwan's Trade Surplus Rises to $12.2 Billion in June

Taiwan's trade surplus expanded by 1.2% year over year to $12.2 billion in June from nearly $12.1 billion in the same month last year, according to data from the Ministry of Finance on Thursday.The latest figure was lower than $17.9 billion in May, and missed the consensus forecast of $19.3 billion in surplus, according to Investing.com.Exports rose 40.3% year over year to $74.8 billion, missing the consensus forecast for a 48.6% growth.Imports increased 51.8% to $62.6 billion. The consensus forecast was for a 47.8% rise.

Taiwan Weighted

International35d ago

Hong Kong's Visitor Arrival Jumps 13% in H1

Hong Kong recorded a 13% rise in visitor arrivals in the first half of 2026 to around 26.7 million, according to a Wednesday release by the Hong Kong government.Mainland and non-Mainland visitors jumped 16% and 5%, respectively, year over year, Secretary for Culture, Sports and Tourism Rosanna Law told the Legislative Council Wednesday.The increase in tourism was supported by mega events and a boost in consumption in the hotel, catering, and retail sectors, she added.Supported by a growth in visitor arrivals, the tourism expenditure associated with inbound tourism is expected to jump around 10% to HK$238.1 billion in 2026, after a 13% year-over-year rise in 2025.

Hang Seng

International35d ago

Bank Negara Malaysia Maintains Overnight Policy Rate at 2.75%

Bank Negara Malaysia (BNM) voted to maintain its benchmark Overnight Policy Rate at 2.75% at the conclusion of its Monetary Policy Committee (MPC) meeting on Thursday.The decision, which matched the consensus forecast tracked by Investing.com, keeps borrowing costs at their current level after keeping the rate unchanged in its previous policy move as well.The MPC said the decision is supported by resilient global growth amid global tech expansion and improving supply conditions and prices of key commodities.On the inflation front, BNM noted that headline and core inflation averaged 1.7% and 2.1%, respectively, in the first five months. The impact of the Middle East conflict and global commodity prices on inflation is expected to remain contained in 2026.The central bank said the economic growth forecast for Malaysia is expected to remain within 4%-5% for the full year, subject to downside risks from a prolonged Middle East war and lower commodity production.

FTSE Bursa Malaysia KLCI

International35d ago

Thailand's Consumer Sentiment Rises to Three-Month High in June

Thailand's consumer confidence index rose to 50.7 in June from 49.5 in May, marking its highest reading in three months, according to a survey released by the University of the Thai Chamber of Commerce on Thursday.The reading exceeded Trading Economics' forecast of 50, but remained below 100, the baseline separating positive from negative sentiment.The improvement reflected easing concerns over the Middle East conflict following a temporary ceasefire, lower oil prices, and the launch of the government's stimulus program.Confidence in the overall economy rose to 44.1 in June from 43.1 in May, while confidence in employment prospects increased to 48.7 from 47.5, and the future income index climbed to 59.3 from 57.9.The university said sentiment and spending are expected to improve further in the third quarter if stimulus measures gain traction and geopolitical tensions continue to ease.

^SET

International35d ago

Seoul Blasts Proposed 12.5% USTR Forced Labor Tariff as "Unwarranted"

South Korea has called the US Trade Representative's proposed 12.5% tariffs on South Korea and other countries, over forced labor concerns, "unwarranted" and "disproportionate" to the Asian economy's relevant circumstances.The South Korean Embassy in Washington submitted comments to the office on Monday, formally challenging the proposal asking for the tariff to be reconsidered.The Korean government noted that the report has no hard evidence specifically implicating Korea, saying "the report lacks factual basis to support its conclusion".The USTR conducted trade investigations into 60 countries, including South Korea, China and Japan, over forced labor concerns under Section 301 of the 1974 Trade Act, following which it proposed 12.5% tariffs on South Korea and 45 other economies."Should the United States nevertheless determine that it is necessary to impose tariffs on the economies under investigation, Korea would like to stress that it should be granted more favorable treatment than initially proposed," it said.

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International35d ago