A currency trader watches computer monitors near the screens showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Wednesday, May 17, 2023. Asian shares were trading mixed Wednesday as Japan's benchmark jumped on the news of solid economic growth data, while the rest of the region was mired in uncertainty. In Europe, France's CAC 40 declined nearly 0.
Japan’s encouraging GDP data released earlier in the day showed consumption was rebounding after COVID-19-related restrictions were eased and borders opened to tourists. “As real compensation of employees declined at a faster pace, weaker purchasing power will continue to make consumers selective,” she said.
In the U.S., big retailers including Target and Walmart are scheduled to report their results later this week. They’re under the microscope because resilient spending by U.S. households has been one of the main positives keeping the economy from sliding into a recession.
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