Japan's market indexes extended the previous session's losses, and wage gains in April lagged core consumer price inflation. Japan's transportation regulator stepped up its investigation of leading automobile makers amid widespread practice of falsifying safety certification.
China indexes extended gains for the third session in a row, and the yuan faces pressure amid worries of capital flight. The service sector's growth accelerated in May and expanded for the 17th month in a row, suggesting a rebound in economic activity in the previous month.
Container Corporation signed an order with Shipping Corporation of India for end-to-end logistics solutions. GPT Infratech won an order from Rail Vikas Nigam. NLC plans to raise foreign currency loans through a direct offering.
Japan's market indexes halted a two-day rally amid broad market weakness, and the yen lacked direction. Japanese automakers' vehicle sales in North America increased nearly 16% in May.
Corporate capital expenditure in the first quarter rose for the 12th quarter in a row, but slowed sharply from the previous quarter. Technology, financial, and chemical stocks were among the leading gainers.
Stocks in Shanghai and Hong Kong advanced after the private survey of the manufacturing industry showed an expansion for the seventh month in a row and an acceleration in activities for the fourth consecutive month.
The Nikkei 225 index trimmed weekly losses and extended monthly gains. Japan's annual industrial output declined for the sixth month in a row, and the jobless rate held steady for the third month in a row. Tokyo's overall and core inflation accelerated in May but stayed below 2%.
China's manufacturing sector growth contracted for the first time in May after expanding in the previous two months in a row, and service sector growth slowed. The Hang Seng index is set to gain for the fourth month in a row.
The Nikkei index extended its two-month loss to 8% after peaking at a record high in March amid the persistent weakness in the yen and widening yield gap between Japan and the U.S.
Japan market indexes declined for the second day in a row after the rise in U.S. bond yields supported the advance in global bond yields. The yen drifted lower after the Japanese government bond yield traded at a 12-year high.
Market indexes in Hong Kong and Shanghai fell as investors booed profit after a one-month rally. The Chinese yuan dropped to a six-month low ahead of the update on the manufacturing sector.
Shanghai became the first tier-1 city to announce measures to revive property market transactions amid affordability issues and a lack of confidence in property developers.
