Japan's benchmark indexes declined for the third consecutive day after the initial optimism about recent trade deals waned. Nomura Research reported strong quarterly results, as the earnings season picks up momentum this week.
China and Asian market indexes struggled to stay above the flatline ahead of the start of the earnings season, the Fed's rate decisions, and the Politburo meeting.
Stock market indexes in Tokyo closed down for the second consecutive day as corporate earnings regained focus. Investors lowered the economic growth outlook after the latest Japan-U.S. trade deal dimmed the export growth estimate.
Japan's benchmark indexes trimmed weekly gains to 4%, and investors booked profits following the easing of U.S. tariff fears after the U.S. and Japan signed a preliminary deal.
Japan's stocks advanced for the second consecutive day after the U.S. agreed to limit the increase in tariffs to 12.5%, sharply higher than the 3% in the previous year.
Benchmark indexes hovered near 40-month highs amid improving prospects of a U.S.-China trade agreement. The latest U.S.-Japan agreement confirmed that the U.S. president always backs down from his initial aggressive demands.
The LDP-Komeito ruling coalition lost its majority in the Upper House, and the government with a minority in both houses is likely to face more pressure to expand fiscal spending.
Investors lacked enthusiasm and awaited possible new measures to revive the property market and tackle excessive competition in renewable energy, electric vehicle, and lithium battery manufacturing.
Japan's political uncertainty ahead of this weekend's election kept weekly gains in check, and the yen hovered at a three-year low. Consumer price inflation slows to a three-month low, and core inflation eases to a 7-month low.
Benchmark indexes in China and Hong Kong extended weekly advances, tracking gains in New York. Internet platform operators and EV makers led gainers, and property developers led decliners.
Japan's trade surplus narrowed sharply in June after exports fell and imports rose from a year ago. Canada's Alimentation Couche-Tard abandoned its $47 billion bid to acquire Seven & I, the parent company of Seven Eleven.
Chinese authorities pledged to curb excessive competition in the electric vehicle market and take steps to stabilize the industry and price monitoring.
Japan's benchmark indexes were under pressure amid worries that the ruling coalition may lose its grip on power after the Upper House election on Sunday.
