MARKET SCREENER




 

Japan's service firms enjoyed a festive end to the year.
The sector expanded for a second straight month during December according to figures out Monday.

The closely watched services PMI from au Jibun Bank rose to 50.9.
That was a bit lower than an earlier preliminary reading, but still well above the key 50 point level that indicates rising activity.

Firms were buoyed by solid demand.

That saw a subindex of new business rise for a sixth month, while employment was up for a 15th straight month.

Firms said they were hiring more people in line with expansion plans.
Business sentiment also stayed positive, with companies saying they are hopeful activity and demand will both grow over the coming year.

The rate of inflation held at relatively high levels during the month, largely due to rising costs for labor and raw materials.

That will bolster the chances of further rate hikes by the Bank of Japan.
However, bank governor Kazuo Ueda has said he also need to watch overseas developments, not least what Donald Trump does when he takes office in the U.S. later in January.