Australia Household Spending MoM

Australia Household Spending YoY

Japan 3-Month Bill Auction

Switzerland Unemployment Rate

The S&P/ASX 200 edged up 0.2% to 8,612 on Friday, following a muted performance in the previous session, as stronger-than-expected US job growth and a surprise drop in the unemployment rate reinforced confidence in the resilience of the US economy—despite signs of slowing private-sector hiring and persistent global trade uncertainties. In Australia, investor focus shifted to the upcoming monthly household spending indicator, due later today, as well as the Reserve Bank of Australia's monetary policy meeting next week. Markets widely expect a 25 basis point rate cut, which would bring the cash rate down to 3.60%. Among individual stocks, notable gainers included Newmont Corporation (1.2%), Goodman Group (1.2%), and Wesfarmers Limited (1%). On the downside, BHP Group Limited fell 1.6%, Pro Medicus Limited lost 1.7%, and Rio Tinto Limited declined 1.7%. For the week, the index is on track for its second consecutive weekly gain.

Australian Shares Edge Higher, Set for Second Weekly Gains

Vietnam's GDP is expected to grow by 7.67% YoY in Q2 of 2025, according to Minister-Chairman of the Government Office Tran Van Son, as reported by Vietnam Plus on Thursday. For H1, GDP is estimated at 7.31%, exceeding projections by 0.2 to 0.3%. Meanwhile, the Ministry of Finance reported that the manufacturing and processing industry grew by 10% in H1, while exports surged by 14%. Last week, the IMF projected that Vietnam's GDP growth would slow to 5.4% this year, down from 7.09% last year, under a high-tariff scenario. However, the outlook is heavily dependent on the outcome of trade negotiations and is constrained by elevated global uncertainty. The US and Vietnam marked a trade deal on Wednesday under which the US will impose a 20% tariff on imports from Vietnam, down from the previously planned 46% levy. The US is Vietnam’s top trading partner, with shipments to the US accounting for about 30% of Vietnam's GDP. Official statistics are scheduled for release on Sunday.

Vietnam Q2 GDP Growth Estimated at 7.6% YoY

The Nikkei 225 rose 0.1% to around 39,810, while the broader Topix Index added 0.2% to 2,835 on Friday, marking a second straight day of gains for Japanese equities. The rally followed a strong lead from Wall Street, where major US benchmarks hit fresh record highs after robust June jobs data helped ease concerns over a potential economic slowdown. Investors also monitored ongoing trade developments, with reports suggesting President Donald Trump may soon announce revised tariff rates or extend the July 9 deadline for several countries. On the domestic front, household spending in Japan rebounded more than expected in May, supported by Tokyo’s intensified efforts to stimulate consumption. Among the top gainers were Tokyo Electric Power (+4.5%), Mizuho Financial (+1.7%), and Keyence (+1.8%). Despite recent gains, both the Nikkei and Topix remain on track to post weekly losses, as persistent trade uncertainties continued to weigh on market sentiment earlier in the week.

Japanese Shares Follow Wall Street Higher

Household spending in Japan jumped 4.7% yoy in May 2025, reversing a 0.1% decline in April and far exceeding market expectations of a 1.2% rise. It marked the fastest pace of growth since August 2022, reflecting the impact of government measures aimed at boosting domestic consumption. On a monthly basis, household spending in Japan surged 4.6% in May, rebounding from a 1.8% decline in April and marking the sharpest increase in nearly four years. The figure also beat consensus of a modest 0.4% rise.

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