Asian Stocks Looking Negative at Open

Asian Stocks Open Lower

Asian Stocks Fall Following Concerning Powell Remarks: Markets Wrap US rates surged on Tuesday following Powell’s indication of a postponement of a rate decrease. A key Asia stock barometer momentarily erases 2024 gains as concerns escalate.

In March 2024, Asian Stocks and Japan’s trade balance saw significant changes compared to the previous year. Japan’s trade balance shifted from a deficit of JPY 750.854 billion to a surplus of JPY 366.467 billion. This change was driven by increased exports and decreased imports, resulting in the first trade surplus in three months. Shipments surged by 7.3% year over year in May, reaching JPY 9,469.60 billion, the highest in three months, fueled by strong demand from the US and China. However, imports, mainly mineral fuels, fell by 4.9% to JPY 9,103.13 billion, marking the second dip of the year. Despite this improvement, Japan recorded a trade deficit of JPY 9.29 trillion in 2023, marking the third consecutive year of deficit.

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