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.

Japan Personal Spending Rebounds More than Estimated

South Korea recorded a current account surplus of $10.14 billion in May 2025, the highest since December 2024 and marking the thirteenth consecutive month of surplus. The goods account posted a surplus of $10.66 billion, as exports fell 2.9% year-over-year to $56.93 billion while imports declined 7.2% to $46.27 billion. Meanwhile, the services account showed a $2.28 billion deficit, driven by continued shortfalls in travel and other business services. The primary income account registered a $2.15 billion surplus, largely due to increased income from equity investments. The secondary income account posted a deficit of $0.39 billion.

South Korea Current Account Surplus Reaches 5-Month High

New Zealand stocks fell 23 points, or 0.2%, to 12,681 in Friday morning trade, marking the second consecutive day of decline, led by losses in the industrial services, non-energy minerals, and healthcare sectors. Caution prevailed ahead of the expiration of the 90-day trade truce on July 9 and the Reserve Bank of New Zealand’s policy decision next week. While the RBNZ is expected to hold rates steady at 3.25%, markets were wary of the potential impact of U.S. tariffs. Restaurant Brands NZ dropped 2.3%, while Fletcher Building, Serko, and Mainfreight fell between 1.4% and 1.7%. Still, the NZX 50 remains on track for a third consecutive weekly gain, up around 0.9% so far, buoyed by continued record highs on Wall Street and optimism over easing U.S. export curbs on chips to China. Meanwhile, soft factory and services data from the mainland in June added to expectations that Beijing may roll out new stimulus measures, especially with the Politburo meeting anticipated later this month.

New Zealand equities Eye Third Weekly Advance

In New York,  the Dow Jones Index went up by 344 points or 0.77 percent on Thursday. Top gainers were Travelers Companies (2.64%), Boeing (1.78%) and IBM (1.50%). Biggest losses came from Merck (-1.69%), 3M (-1.07%) and P&G (-0.43%).

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Japan Personal Spending Rebounds More than Estimated

South Korea Current Account Surplus Reaches 5-Month High

New Zealand equities Eye Third Weekly Advance

The Dow Jones Index Closes 0.77% Higher