Japanese stocks opened lower on Wednesday (August 6th), following a decline in the US market after weak US services sector data sparked uncertainty over the Federal Reserve's policy direction. The Nikkei 225 index fell 119.08 points, or 0.3%, to 40,430.46 in early trading.
Meanwhile, recent data showed Japanese workers recorded the fastest nominal wage growth in four months, reinforcing expectations that the Bank of Japan (BoJ) may soon raise interest rates. Government data showed nominal wages rose 2.5% year-on-year in June, a sharp increase from a revised 1.4% in May.
The market is also closely monitoring developments in China, after former US President Donald Trump stated that a trade deal with Beijing was "getting closer." This sparked renewed speculation about the outlook for global trade.
Meanwhile, oil prices stabilized after experiencing pressure in recent days. This stability is supported by news that Russia is considering an air ceasefire with Ukraine, raising hopes for easing geopolitical tensions.
Source: Newsmaker.id
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