Share prices succumbed to profit-taking Friday despite the release of government data showing a slower inflation rate in June 2024.
Government debt surged by 8.4 percent to reach a record P15.35 trillion as of end-May 2024 on continued borrowings and depreciation of the peso. “The fact that the Topix, which indicates the overall performance of the Japanese market, has in turn broken its own record, is news of great importance,” said analyst Takuma Ikemoto of the Tokai Tokyo Intelligence Lab.
But shares in Hong Kong ended a four-day winning streak, while stocks in mainland China were trading lower after the European Union slapped extra provisional duties of up to 38 percent on Chinese electric car imports on Thursday.
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