Global Indices & Market News
Global Equity Markets Review
U.S. S&P 500 index dropped 1.01% last week. The Nikkei 225 Index and Hong Kong's Hang Seng index fell 6.51% and 3.65% respectively.
Japanese government raised the economic growth expectations to "steady recovery"
The Japanese government raised the economic expectations, for second consecutive month. The Government of Japan pointed out that the domestic economy is steadily recovering. This is the fifth time in this year the Japanese government raised the economic expectations. Japanese government raised 5 categories in the report, including housing construction, public investment, exports and industrial output.
U.S. initial unemployment benefits claimant data and retail sales data were better than expected in May
U.S. weekly unemployment benefits claimants fell for the second consecutive week, indicating that the employment situation is steadily improving. Labor Department reported that Initial unemployment benefits claimants fell by 12,000 people to 334,000 people, which was better than economists' expectations. In addition, last Thursday, U.S. Commerce Department said that advance monthly sales for retail and food services in May increased 0.6 percent to 4,211.5 billion, which was 0.4% more than economists’ expectations.
ESM for bank recapitalization may be no more than 60 billion euros
Two officials familiar spoke to "Wall Street Journal" that Eurogroup plan to limit the European Stability Mechanism (ESM)‘s maximum amount to 60 billion euros. The agreement will be discussed in euro zone finance ministers meeting on 20 June.
BOJ Minutes: The current policy did not exclude the possibility of currency adjusting
Last Friday, BOJ announced meeting minutes, which implied that current policy did not exclude the possibility to make the necessary adjustments of currency maintaining. At the meeting, the Bank of Japan announced to maintain its monetary policy, and to raise economic growth expectations for fifth consecutive month.
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