Mt. Fuji and crane seen at a port in Tokyo, Japan. Reuters
Confidence among Japanese manufacturers rose to a more than two-year high in April, as strong demand in the electronics market and favourable exchange rate conditions boosted prospects for exporters, a Reuters poll showed on Friday.
Robust earnings from Google-owner Alphabet and Twitter took the S&P 500 and Nasdaq indexes close to record levels on Friday, with data showing the domestic economy slowed lesser than expected in the second quarter providing support.
Japan’s government is considering downgrading its assessment of the economy next week as the intensifying Sino-US trade war takes a toll on exports and factory output, a government source with direct knowledge of the matter told Reuters. A downgrade in the crucial monthly report could fuel speculation
With unemployment at a 26-year low, Japanese companies are facing stiff competition for talent. But younger people entering the workforce often resent everything that made the Japanese corporate environment globally notorious: long hours, strict top-down discipline and rewards based on loyalty and seniority.
Bitcoin dropped by 7% to $48,176 in a third straight session of losses while others such as Ether and XPR suffered double-digit tumbles.
Spot gold was steady at $1,783.28 per ounce by 05:45 GMT while US gold futures rose 0.1% to $1,783.90 per ounce.
Brent crude futures rose 37 cents, or 0.6%, to $65.77 a barrel while US West Texas Intermediate (WTI) crude futures jumped 45 cents, or 0.7%, to $61.88 a barrel.
Global stocks ground higher while oil ebbed on Thursday as investors diverged over whether to bet on economic recovery in the United States and other developed markets or worry about a surge in COVID-19 cases in India and elsewhere.