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Asia-Pacific markets fall after Japan's yen weakens to a near 38-year low

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The Japanese yen weakened to a near 38-year low late Wednesday, dropping to 160.82 against the U.S. dollar, according to FactSet data.

Japan's year-on-year retail sales growth for May came in at 3%, higher than the market forecast of 2%, according to a Reuters poll of economists.Employees work at the Tokyo Stock Exchange , operated by Japan Exchange Group Inc. , in Tokyo, Japan, on Thursday, Jan. 4, 2024.Asia-Pacific markets opened lower on Thursday, as the Japanese yen weakened to a near 38-year low late Wednesday, hitting 160.82 against the U.S. dollar, according to FactSet data.

Finance Minister Shunichi Suzuki said Thursday that the country was "deeply concerned about FX impact on economy," Reuters reported.came in at 3%, higher than the market forecast of 2%, according to a Reuters poll of economists. This compares with a revised 2% growth in April. China's industrial profits grew 3.4% year on year from January to May, reaching 2.75 trillion Chinese yuan ,

Source: Financial Digest (financialdigest.net)

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