US producer prices rose less than expected in July, leading to gains in Asia-Pacific markets.
Asia-Pacific markets continued their upward trend, as US producer prices rose less than expected in July (0.1% vs. forecasted 0.2%), leading to gains in Japan's Nikkei 225, South Korea's Kospi and Australia's S&P/ASX 200. However, Japan's business sentiment at manufacturers declined slightly in August due to weak demand from China, according to the Reuters Tankan survey. Meanwhile, South Korea's unemployment rate reached a record low of 2.5%.
August 14, 2024
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