FILE - A passerby looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo, on June 27, 2024. Asian stocks mostly fell on Wednesday as markets digested Japanese and Australian business data, after U.S. stocks held relatively steady as earnings reporting season ramped up for big companies.
The U.S. dollar was trading over 162 yen earlier this month but the Japanese currency has strengthened in recent days after officials intervened to staunch the yen's decline. Expectations that the BOJ may raise its near-zero interest rate, and that the Federal Reserve may in turn cut rates, have helped support the yen, which has languished as the gap between U.S. rates and those in Japan widened.
Australia’s S&P/ASX 200 edged 0.1% lower to 7,963.70 after its services sector saw weaker growth in July. Manufacturing improved slightly but remained in contractionary territory.
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