Asian shares higher; Japan’s services prices rise 0.7% in March

  • Japan +0.45%. Shares edged higher led by gains in travel-related stocks.
  • The services PPI, which tracks the price companies charge each other for services, rose 0.7% Y/Y vs. expectations of 0.0%, prior -0.1%.
  • Japan’s services prices picked up in March as advertising and transportation fees rose, suggesting the economy was recovering moderately from last year’s severe hit as the coronavirus pandemic took hold.
  • “There might have been some pent-up demand in March that drove up prices, though there’s huge uncertainty on the outlook given the new state of emergency,” Shigeru Shimizu, head of the Bank of Japan’s price statistics division, told a briefing.
  • China +0.19%.
  • Hong Kong +0.08%.
  • Australia -0.04%.
  • On the virus front, India’s Covid-19 crisis is worsening, with a million cases added in the past three days.
  • The Biden administration has said it will immediately make raw materials needed for India’s coronavirus vaccine production available.
  • Oil prices were lower, with Brent crude futures down 0.38% to $65.86/barrel. U.S. crude futures slipped 0.31% to $61.95/barrel.
  • U.S. stock futures higher. Dow Jones +0.14%; S&P 500 +0.08%; Nasdaq +0.04%.
This website uses cookies and asks your personal data to enhance your browsing experience.