Steady buying from mainland investors bolstered the rise in tech stocks and the Hang Seng Index for the third day in a row. China's service sector growth dropped to an eight-month low.
Stock market indexes advanced for the third day in a row as the yen keeps declining to new multi-decade lows. Japan's first contraction was deeper than previously estimated.
China's automobile sales contracted in June by 2.9% to 1.91 million units, the first monthly decline since January. China's new home sales continue to plunge across the top 100 cities amid persistent market weakness, but top tier cities showed a slight rebound in transactions.
The Topix index traded at a new intra-day record high, but foreign investors stayed on the sidelines due to the slow progress in corporate governance. The sentiment among large manufacturers improved in the second quarter.
China's official manufacturing survey showed activities contracted for the second month in a row, but the private survey indicated rising activities driven by slowing but sustained export demand.
China indexes extended weekly and monthly losses and trimmed first-half gains after piecemeal economic reforms failed to revive consumer and investor confidence.
The yen drifted below the low last seen in 1986, prompting talks of market intervention but raising long term uncertainty. Currency traders are fearing that the yen may sink as low as 170 against the dollar.
China's industrial profit growth plunged in May, confirming the fragile and uneven economic recovery as policymakers struggle to find ways to revive economic growth.
Benchmark stock indexes advanced for the second consecutive day, the yen hovered near a three-decade low, and the yield on Japanese government bonds stayed above 1%.
Stocks in Shanghai and Hong Kong struggled amid rising trade tensions with Canada and the European Union. Property stocks were in focus amid rising creditor actions against residential developers.
The Bank of Japan policy members appear to be divided in deciding the future course of interest rates. The yen drifted to a three-decade low level that generally prompts market intervention from the central bank.
Benchmark indexes traded higher after bargain hunters returned to seek values in the tech, financial, and real estate sectors. The Chinese premier reiterated China's annual GDP growth target of 5%.
Japan's consumer price inflation accelerated in May, and core inflation also advanced, reflecting the ending of energy subsidies to households. Manufacturing sector growth slowed in June, but the sector expanded for the second month after contracting for a year.
