Asia-Pacific markets flat in early trade, South Korea’s GDP lags behind estimates

SINGAPORE – Shares in Asia-Pacific were flat on Tuesday as South Korea’s gross domestic product projected.

of japan Nikkei 225 Little had changed and the Topix Index rose 0.1%.

in Australia, S&P/ASX 200 was partially higher.

kospi South Korea was slightly lower, while the Kosdaq was slightly higher.

South Korea’s economy grew 0.7% in the second quarter Compared to the first quarter of 2022, according to estimates released by the Bank of Korea. That compared to a 0.4% increase expected by analysts in a Reuters poll. The country’s GDP grew by 0.6% in the January-March quarter.

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The Bank of Japan on Tuesday released the minutes for the June meeting, After keeping its interest rates at ultra-low levels last week.

BOJ Policy Board members said that the economy is on the path of recovery from the impact of Kovid, but still needs strong support on the financial side due to the pressure of growth in commodity prices.

“They also agreed that it was necessary to pay due attention to developments in the financial and foreign exchange markets and their impact on Japan’s economic activity and prices,” Minutes said.

The Japanese yen has weakened as the country’s monetary policy diverged from that of the Fed and most of the developed world.

Japanese yen 136.49 per dollar, which is stronger than last week’s level.

Overnight in the US, the S&P 500 closed 0.1% higher at 3,966.84. The Dow Jones Industrial Average rose 90.75 points, or 0.3%, to 31,990.04. The tech-heavy Nasdaq Composite fell 0.4% to 11,782.67.


US Dollar IndexThe greenback, who tracks the greenback against a basket of his peers, was at 106.439 from the month’s high.

Australian Dollar was at $0.6951.

The Australian kept on track with commodity prices rising, but is expected to trade in a tight range ahead of inflation data reports on Wednesday, Joseph Caperso, head of international economics at the Commonwealth Bank of Australia, wrote in a Tuesday note. .