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Nikkei gains 3.64%, best weekly gain in four years
Asian markets saw mixed movements on Monday, following a strong rally led by Japan's Nikkei, which posted its best performance in four years. Investors now focus on inflation data and central bank decisions, which will shape the near-term outlook for regional markets. Japan's Nikkei 225 surged 3.64% posting an 8.67% weekly rise, its strongest since April 2020. The Topix was up 2.99%, rising 7.86% for the week. Both indexes were lifted by easing recession fears in the U.S. following better-than-expected retail sales and unemployment data. Meanwhile, core machinery orders in Japan fell by 1.7% year-on-year in June. Economists WERE expecting a 1.8% rise. This may be because businesses are incertain about spending on capital, which may impact Japan's broader economic outlook. The news comes as Japan prepares for to float the Tokyo Metro on the stock market. Other stocks in Asia showed mixed performance as investors awaited inflation data and central bank decisions. South Korea's Kospi fell 0.27%. On the positive side, Hong Kong's Hang Seng rose 1.14%, and the CSI 300 gained 0.41%.
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