Asian stocks should open on Monday buoyed by Friday's tech-led surge on Wall Street, while investors will be scrambling to make sense of the latest twist in the Japanese yen's extraordinary helter-skelter slide against the dollar and other currencies.
But it hasn't, and there are good reasons for that: contrasting U.S. and Japanese inflation data, yawning U.S.-Japanese yield differentials, and the benefits of weak yen to Japan's asset markets, corporate profits, tourism and all-round competitiveness. Japanese officials have expressed their disquiet with the yen's weakness, but the longer that talk is not backed up with action, the more hollow it rings. Will traders have 160.00 dollar/yen in their sights this week? You would think so.
Highlights from the Asian economic calendar this week include Chinese PMIs, Bank of Korea meeting minutes, inflation from South Korea and Indonesia, and Hong Kong GDP. TELUS Corporation is largely controlled by institutional shareholders who own 54% of the companyBERLIN — President Vladimir Putin of Russia is about to institute a rare tax increase on corporations and high earners, a move that reflects both the burgeoning costs of his war in Ukraine and the firm control he has over the Russian elite as he embarks on a fifth term in office.
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