China-based stocks faced headwinds as investors shifted their focus to the U.S. tariff deadline next week. For the week, the Hang Seng declined for the first time in three months.
Market sentiment soured in Shanghai and Hong Kong amid worries that the direct and indirect exports to the U.S. are likely to face higher-than-expected barriers and tariffs in the months ahead.
Mainland China investors continue to pour funds into Hong Kong-listed stocks at a record pace in the first half. The HKMA was forced to intervene for the second time in as many weeks to defend the currency's peg.
China's manufacturing sector remained in contraction territory for the third month in a row in June. Unisound AI and Medtide completed their listing on the Hong Kong Stock Exchange.
Japan's retail sales advanced for the 38th consecutive month in June, and the Tokyo area's consumer price inflation stayed above the Bank of Japan's target rate for the eighth month in a row.
China's stock market indexes advanced more than 3% after a week of trading amid hopes of cooling tensions in the Middle East and progress on trade talks with the U.S.
Japan's stock market indexes advanced to four-month highs, and the yen held near recent highs as global investors continued to seek non-U.S.-dollar-denominated assets.
The Hong Kong Monetary Authority intervened in the currency market to defend the U.S. dollar peg as importers drive higher demand for foreign exchange.
Japan's stock market indexes, yen, and bond yield held firm, and the Bank of Japan's latest Summary of Opinions reiterated the central bank's cautious approach in normalizing interest rate policy.
China and Hong Kong market indexes rebounded after crude oil prices dropped as much as 3% following the rising possibility of a temporary ceasefire between Israel and Iran.
