The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
DOWNLOAD
View all Reports
Metrobank.com.ph Contact Us
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph Contact Us
Access Exclusive Content Login to Wealth Manager
Search
The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
May 8, 2025 DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
May 8, 2025 DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
May 6, 2025 DOWNLOAD
View all Reports
Currencies 3 MIN READ

Bullish momentum fades, yen intervention risks rise

May 8, 2024By Reuters
Related Articles
Oil falls in choppy trade on mixed China COVID signals November 7, 2022 Russian lender TCS to spend up to $200 mln in first stage of Asia expansion November 8, 2021 Euro hits 5-year low, stocks down again on mixed earnings April 27, 2022

Asian markets reach the mid-point of the week still sailing in fairly calm waters, although signs that the recent decline in US bond yields and the dollar is losing steam could be about to suck the life out of the recent rally in risk assets too.

There is some evidence over the last 24 hours of this playing out – Hong Kong stocks finally posted a down day on Tuesday, and broad Asian and emerging market equity indexes essentially ended the day flat.

That may be nothing more than rational profit-taking and position-trimming. The Hang Seng had been on its longest daily winning streak since 2018, and earlier on Tuesday the MSCI Asia ex-Japan and Emerging Market indexes had hit new 15-month and two-year highs, respectively.

Japanese markets, meanwhile, are once again dancing to their own tune with the yen back on the slide after last week’s suspected intervention, which has helped lift the Nikkei to its highest since April 15 and close to the 39,000 point mark.

There doesn’t appear to be any obvious local catalyst on Wednesday to give markets much impetus one way or the other, with only unemployment and trade figures from the Philippines and trade data from Taiwan on the calendar.

The yen and Indonesian rupiah could get a steer from their respective central bank chiefs – Bank of Japan governor Kazuo Ueda speaks at a seminar hosted by Japan’s Yomiuri newspaper, and Bank Indonesia governor Perry Warjiyo addresses the current economic situation in a briefing with the press.

With the yen falling back toward 155.00 per dollar, Japan’s top currency diplomat Masato Kanda warned on Tuesday that Tokyo may have to take action against any disorderly, speculative-driven FX moves.

Meanwhile, investors got another reminder on Tuesday – as if they needed one – of frayed Sino-US relations when TikTok and its parent company ByteDance sued in US federal court seeking to block a law signed by President Biden that would force the divestiture of the popular short video app or ban it.

This comes the same day Chinese President Xi Jinping left France after a two-day trip during which he offered no major concessions on trade or foreign policy, even as President Emmanuel Macron pressed him on market access.

French and Chinese companies concluded some agreements on Monday ranging from energy, finance and transport, but most were agreements to cooperate or renewed commitments to work together. Nothing significant enough to suggest icy trade tensions between China and the West are about to thaw.

On the corporate front, Japanese automaker Toyota releases full-year 2024 earnings. Analysts are expecting record-breaking results from the world’s top-selling automaker, lifted by demand for hybrids.

Other big firms reporting include Mitsubishi and Yamaha.

Here are key developments that could provide more direction to markets on Wednesday:

– Bank of Japan Governor Ueda speaks

– Taiwan trade (April)

– Toyota earnings (FY 2024)

(Reporting and Writing by Jamie McGeever; Editing by Josie Kao)

 

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Read this content. Log in or sign up.

​If you are an investor with us, log in first to your Metrobank Wealth Manager account. ​

If you are not yet a client, we can help you by clicking the SIGN UP button. ​

Login Sign Up