International News 30/10
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Japan's Job Market: A Surprise Boost for the Economy.
In September 2024, Japan's labor market demonstrated a notable tightening, with the ratio of jobs to applicants reaching 1.24. This indicates that there were 124 jobs available for every 100 applicants. This increase exceeded economists' expectations. Additionally, the unemployment rate declined to 2.4%, representing the lowest level since January. The number of employed individuals increased by 270,000 compared to the previous year, while the number of unemployed individuals decreased by 90,000. The tight labor market is viewed as a positive development for the Bank of Japan, as it increases the pressure on companies to raise wages in order to retain workers. This environment of higher demand for workers could potentially result in a virtuous cycle between prices and wages, which is a goal the central bank is striving to achieve. In summary, these labor market figures indicate sustained pressure on companies to raise wages and support the bank's projections.
Penguatan Pasar Tenaga Kerja jadi Sinyal Positif untuk Bank Sentral Jepang
Rupiah Dips on Middle East Tensions and US Election.
The rupiah currency depreciated against the US dollar due to market concerns over the ongoing tensions in the Middle East and the upcoming US general election. The rupiah exchange rate declined by 19 points, or 0.12%, to Rp 15,743 per US dollar. Money market observer Ariston Tjendra stated that the market is closely monitoring the situation in the Middle East following Israel's attack on Iran and other countries, as the potential for escalation remains. Furthermore, the outcome of the US election is being closely watched, as a victory for Donald Trump could potentially lead to a trade war and have a negative impact on the global economy, making the US dollar a preferred safe asset. Furthermore, the market is awaiting the release of US labor data, which could provide insight into the health of the US economy and potentially strengthen the US dollar further.
Rupiah Turun Lagi Saat Pasar Amati Konflik di Timur TengahAsian Markets Mixed Amid Tech Earnings and Japan Election.
Asian markets commenced trading with a mixed performance, despite gains on Wall Street. Investors are closely monitoring the earnings reports from major technology companies with the aim of propelling the Nasdaq Composite to new heights this week. Japan's Nikkei 225 experienced a slight decline of 0.21% following the unexpected loss of the Liberal Democratic Party's parliamentary majority for the first time since 2009. Japan's September unemployment rate was 2.4%, a slight decrease from the previous month and better than the Reuters forecast. The Kospi and Kosdaq in South Korea experienced a 0.51% and 0.41% decline, respectively, while Australia's S&P/ASX 200 demonstrated a 0.36% increase. The Hang Seng Index futures in Hong Kong were higher than the previous close. Traders will also be monitoring Singapore's unemployment data. In the US, overnight trading saw stocks surge, with the S&P 500, Dow Jones Industrial Average, and Nasdaq all recording gains.