news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

japanese stocks suddenly collapsed.

in the early trading of september 9, asia-pacific stock markets fell across the board, among which the nikkei 225 index fell by 3% at one point.

south korea's kospi fell as low as 2%.

in addition, australia's s&p 200 index fell nearly 1%.

on the news front, data from japan's ministry of health, labor and welfare showed that real wages adjusted for inflation rose 0.4% year-on-year in july, marking the second consecutive month of growth, mainly driven by wage increases in spring labor-capital negotiations and summer bonuses. during the period, nominal wages increased by 3.6%, marking the 31st consecutive month of growth.

in addition, japan's inflation may continue to rise. since july, many parts of japan have experienced a "rice shortage". osaka officials once again called on the japanese central government to release reserve rice as soon as possible to ease the tight supply, but were rejected by central government officials. as of the end of june, japan's private rice inventory was 1.56 million tons, a year-on-year decrease of 410,000 tons, the lowest since 1999; the average wholesale price of brown rice in june rose 14% from the same period last year, setting a record high since august 2013.

last friday, the three major u.s. stock indexes closed down collectively. as of the close, the dow fell 1.01%, the nasdaq fell 2.55%, and the s&p 500 fell 1.73%.

on that day, popular technology stocks fell across the board. broadcom fell more than 10%, tesla fell more than 8%, amd fell more than 6%, asml fell more than 5%, arm, nvidia, and google a fell more than 4%, amazon, amd semiconductor, micron technology, qualcomm, and meta fell more than 3%, intel and netflix fell more than 2%, microsoft fell more than 1%, and apple fell slightly.

on the news front, the u.s. department of labor released data showing that the number of non-farm payrolls in the u.s. increased by 142,000 in august, compared with an estimated increase of 165,000 and an increase of 114,000 in the previous month. the u.s. unemployment rate in august was 4.2%, compared with an estimated 4.2% and an increase of 4.3% in the previous month.

(source: u.s. department of labor)

specifically, the number of non-farm payrolls in the united states increased by 142,000 in august. the employment growth in august was consistent with the average level in recent months, but lower than the average monthly increase of 202,000 in the past 12 months. in august, employment growth occurred in the construction and health care industries.

construction employment increased by 34,000 in august, above the 12-month average of 19,000 a month. health care employment increased by 31,000 in august, about half the 12-month average of 60,000 a month.

at 4.2% in august, the unemployment rate stood at 7.1 million unemployed, little changed from the previous month. these figures are higher than a year ago, when the unemployment rate was 3.8% and the number of unemployed was 6.3 million. among key workers, the unemployment rates were 4.0% for adult males, 3.7% for adult females and 14.1% for teenagers. among the unemployed, the number of temporarily unemployed people fell by 190,000 in august to 872,000, offsetting an increase in the previous month. the number of permanently unemployed people was essentially unchanged in august at 1.7 million.

on the wage side, average hourly earnings for employees in all private nonfarm jobs increased 14 cents (0.4 percent) to $35.21 in august. average hourly earnings for private-sector production and nonsupervisory employees increased 11 cents (0.4 percent) to $30.27.

in addition, the report showed that the number of new non-agricultural jobs in june was revised from 179,000 to 118,000; the number of new non-agricultural jobs in july was revised from 114,000 to 89,000. after the revision, the total number of new jobs in june and july was 86,000 lower than before the revision.

swap traders slightly raised the odds of a 50 basis point rate cut by the federal reserve later this month after the data was released. the odds rose to about 50% from about 36% before the release. according to the cme fedwatch tool, the probability of a 50 basis point rate cut by the federal reserve in september even reached 55%.

fed governor waller said the current batch of data requires the fed to take action; if the situation is right, he will advocate "front-loaded rate cuts." waller believes that inflation will reach the fed's 2% target, and it is crucial to start cutting interest rates at the next meeting. he said that the job market continues to soften, but it has not deteriorated, and the unemployment rate has risen, mainly due to an increase in labor supply; compared with the inflation problem, the risks facing employment are more prominent, and in the long run, it is normal to add 100,000 jobs per month. waller said that if the data requires it, he supports continuous rate cuts at subsequent meetings, and if necessary, he supports a larger rate cut.

traders raised their bets on the fed's easing policy after waller expressed support for the fed to take "front-load action" on rate cuts, and traders are now betting that the fed will cut interest rates by 25 basis points in september and a larger cut in november.