A mood of caution hangs over Asian markets on Friday, the last trading day of the quarter and half-way point in the year, with investors likely to keep risk exposure to a minimum ahead of U.S. inflation data later in the day and ahead of the weekend.
Pressure is mounting on the BOJ to raise rates again or taper its bond purchases, if for no other reason than to cool some of the selling pressure on the yen and lift the currency from the 38-year low it hit against the dollar this week. China's currency, meanwhile, also reaches the mid-year point on the defensive, and on Thursday slipped to a new low for the year. Chinese stocks are in a similar boat, hugely underperforming their regional and global peers.The wider mid-year report card in Asia is mixed. Japan's Nikkei massively outperformed, in large part thanks to the weak yen, Japanese bond yields have hit multi-year highs, but the specter of deflation has pushed Chinese bond yields to historic lows.
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