Weak yen drives up prices in Japan’s used car market amid soaring export demand
The most affected are small and mid-sized car dealerships, which are struggling to compete with large exporters who can afford to pay higher prices.
Inflation
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Tokyo’s core inflation accelerates, boosting prospects for BOJ rate hikes
The August inflation figure is the highest recorded in Tokyo since early 2023, reflecting growing inflationary pressures that have been largely absent in recent years.
IDX composite hits record high amid positive market sentiment
The index gained 61.90 points during the session, breaking through previous records and surpassing the 7,600 thresholds for the first time in history.
Japan’s Nikkei rises amid softer stance from Bank of Japan chief
The session began with a hawkish tone from Ueda during parliamentary testimony, where he hinted at possible future interest rate hikes if inflation continues to rise.
Japan’s core inflation rises in July, but demand-driven growth slows
Economists believe that Japan's inflation figures are largely driven by external factors, such as the yen's depreciation and high global energy prices, rather than domestic demand.
IDX composite rises 0.74%, ends week in green
The surge was primarily driven by strong performances in the financial sector, which climbed 1.24%, and the infrastructure and agriculture sectors, both of which also saw notable increases.
Singapore Government reviews strategies to address cost of living and senior care, says PM Wong
During his statement, PM Wong highlighted that the government is committed to understanding and mitigating the impact of inflation and living expenses on households. He emphasized that rising costs, particularly in housing, healthcare, and daily necessities, are significant concerns for many Singaporeans. The administration is therefore reviewing existing policies and exploring new initiatives to ensure that economic support is effectively targeted and sufficient to alleviate financial pressures on families.
Bank of Japan Governor vows vigilance amid market turmoil, hints at future rate hikes
Ueda's comments were delivered during a session of the Diet, which is currently out of session, to clarify the BOJ’s response to recent market fluctuations. The policy adjustment led to heightened volatility in both the stock and currency markets, with the Nikkei Stock Average witnessing its largest-ever single-day drop, followed by a notable recovery. Concurrently, the yen experienced fluctuations, briefly strengthening to the ¥141 range against the dollar before stabilizing.
Japan’s Nikkei hits 3-week high, focus shifts to central bank policies
The Nikkei had experienced a significant 12.4% drop on August 5, 2024, the largest single-day decline since the 1987 Black Monday crash.
Rupiah surge poses challenges for Indonesian exporters
With global palm oil prices already under pressure from increased supply and sluggish demand, the strengthening rupiah is squeezing profit margins further.
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