Japan pay data, China markets

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Japan pay data, China markets

A customer places a ********* 10,000 yen banknote on a checkout counter while making a purchase at an Akidai YK supermarket in Tokyo, Japan, on Monday, June 27, 2022.

Kiyoshi Ota | Bloomberg | Getty Images

SINGAPORE — ******** markets skyrocketed over 10% on its open Tuesday, after coming back from the Golden Week holiday as the rally from Beijing’s stimulus measures continued.

The CSI 300 index was up 10.2% on its open, but Hong Kong’s Hang Seng index plummeted over 3%.

Other Asia-Pacific markets mostly fell on Tuesday, with investors watching August pay and spending data out from Japan.

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fell 1.9% year-on-year in August in real terms, a softer fall compared to the 2.6% decline expected by a Reuters poll of economists.

The drop is the fastest pace of decline since January, which saw a 6.3% fall year-on-year. That decline also came before spring wage negotiations delivered the largest pay hikes to unionized ********* workers in 33 years.

However, real wages rose in August, with data from the country’s statistics bureau indicating that wages climbed 2% to an average of 574,334 yen ($3,877.44).

Overnight in the U.S., stocks slid as rising oil prices and higher Treasury yields weighed on market sentiment.

The Dow Jones Industrial Average dropped 0.94%, while the S&P 500 slid 0.96%. The Nasdaq Composite  saw the largest loss, falling 1.18%.

The benchmark 10-year Treasury yield rose to 4.02%, marking the first time since August that the yield topped 4%.

Oil prices also rose as tensions in the Middle East remain high. U.S. crude climbed more than 3% to settle above $77 per barrel.

— CNBC’s Lisa Kailai Han and Jesse Pound contributed to this report.

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#Japan #pay #data #China #markets

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