Japan, South Korea scramble
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TOKYO (Reuters) -Japan's Seven & i Holdings said on Thursday operating profit rose 9.7%% in the March to May quarter, beating analyst estimates, boosted by stronger performance at its overseas convenience stores. Profit was 65.1 billion yen ($445.19 million). That compared with an estimate of 58 billion yen from six analysts polled by LSEG.
Equities in Australia and South Korea gained and those in Japan dipped.Japanese government bonds were steady ahead of an auction of 20-year JGBs Thursday. The dollar edged lower in early Asian trading.
Foreign investors bought Japanese stocks for 13 straight weeks to June 27, their longest buying spree since 2013, data from Japan Exchange Group showed.
Foreigners divested Japanese stock for the first time in 12 weeks in the week through June 21 on caution over the Israel-Iran conflict and its impact on Japanese oil imports and inflation.
Rice prices in Japan have started to ease, falling below Prime Minister Shigeru Ishiba’s target of below 4,000 yen for a five-kilogram bag.
Asian equity markets finished mostly higher on Tuesday after US President Donald Trump extended the grace period for a new wave of tariffs targeting 14 trading partners.
Asia-Pacific stocks increased Monday, July 7, with the Hong Kong market declining for the third day.
Global shares mostly fell even as U.S. stocks climbed further into record heights as the clock ticks on President Donald Trump’s July 9 tariff deadline.