Asia-Pacific markets trade mixed as U.S. economic uncertainties linger

Asia-Pacific markets trade mixed as U.S. economic uncertainties linger


Shares of Mitsubishi Motors climb after reports of Foxconn collaboration

Shares of Mitsubishi Motors rose 4.5% after reports that it is closing in on an EV collaboration deal with Taiwan’s Foxconn, according to Nikkei citing sources close to the matter.

Discussions have been ongoing for over six months, sources were cited as saying.

—Lee Ying Shan

Japan inflation eases to 3.7% in February, down from a two-year high

Japan’s headline inflation rose 3.7% year on year in February, easing from a two-year high of 4% seen in January.

Core inflation — which excludes prices of fresh food — was at 3%, lower than January’s figure of 3.2%. However, the core inflation figure was higher with expectations of 2.9% from economists polled by Reuters.

The inflation figures come shortly after the Bank of Japan held interest rates steady.

Read the full story here.

—Lim Hui Jie

Individual investors unusually bearish for 10th time in 12 weeks

Optimism about the outlook for stocks over the next six months rose a touch among individual investors surveyed this week by the American Association of Individual Investors, but remained below the historic average for the 10th week in 12.

Bullish views rose to 21.6% of the total from 19.1% last week, but was far below the historic average of 37.5%. Bearish views toward the market dipped to 58.1% from 59.2%, above its historic average of 31.0% for the 16th week in 18. The balance of respondents were neutral on the stock outlook.

The latest AAII survey marked the first time in its history, which goes back to the late 1980s, that the percentage of bearish Main Street investors stayed above 57% for a fourth consecutive week.

In response to a special question, nearly three quarters of those polled said a recession this year was either highly likely or more likely to occur than not, with 50.4% saying odds of an economic contraction were “higher-than-typical” and another 21.7% saying a recession was “highly likely.” Fewer than one in five, or 18%, said the odds of a recession were no more or less than they expect, while just 9.7% said a recession was unlikely.

— Scott Schnipper

U.S. home sales rose more than expected in February

Homebuyers are starting to reenter the market as more housing becomes available to buy, leading to a better-than-expected increase in February.

According to the National Association of Realtors, sales of existing homes rose 4.2% in February from January, to a seasonally adjusted annual rate of 4.26 million units. However, sales were down 1.2% from the same period a year ago. But that was still better than what economists were anticipating.

— Christina Cheddar Berk



Source

Norway’s Tesla obsession defies Europe’s Musk backlash
World

Norway’s Tesla obsession defies Europe’s Musk backlash

An electric car at a charging station in the Norwegian capital of Oslo on Sept. 25, 2024. Jonathan Nackstrand | Afp | Getty Images OSLO, Norway — Tesla continues to find solace in Norway, defying a sustained European slump amid a backlash over CEO Elon Musk’s incendiary political rhetoric. The U.S. electric vehicle maker recorded […]

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European stocks open lower with EU tariff letter expected from White House
World

European stocks open lower with EU tariff letter expected from White House

BP flags lower gas, oil sales and impairment of up to $1.5 billion A electric pylon passed behind the BP logo displayed outside a petrol station that also offers electric vehicle recharging in Trowbridge in Somerset, England, on March 15, 2025. Anna Barclay | Getty Images News | Getty Images British oil major BP on […]

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UK economy contracts again in May, missing expectations for slight rebound
World

UK economy contracts again in May, missing expectations for slight rebound

London. Dukas | Universal Images Group | Getty Images The U.K. economy shrank again in May, data showed Friday. The latest monthly growth figures from the Office for National Statistics showed U.K. gross domestic product (GDP) contracted 0.1% month-on-month in May. Analysts polled by Reuters had expected a 0.1% expansion. The latest data follows a […]

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