A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.Asian markets bring an eventful first half of the year to a close on Friday with investors bracing for a raft of top tier economic data, particularly from China and Japan, and digesting yet another leg-up in global i
Asian markets bring an eventful first half of the year to a close on Friday with investors bracing for a raft of top tier economic data, particularly from China and Japan, and digesting yet another leg-up in global interest rate expectations.
The Chinese PMIs will come under particularly strong scrutiny. Contracting activity in manufacturing is being offset by expansion in services, but overall growth is weak and authorities are coming under pressure to step in with substantial monetary or fiscal stimulus. Or both. The Bank of Japan, like its Chinese counterpart, is swimming against the global tide of tighter policy, the main reason why the yen is also at a seven-month low against the dollar and fueling BOJ intervention speculation.
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