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investingLive Asia-Pacific market news: Asia stocks slip

Singapore to allocate US$1.1 billion to five asset managers to boost its equities market Japan's Katayama says undervalued yen is problematic, agrees with Bessent on cooperation Australian household spending flat in August, missing forecasts ahead of RBA decision PBOC sets USD/ CNY central rate at 6.7411 (vs. estimate at 6.7177) State Street: Gold may test $4,000 on rate fears but $5,000 still…

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Japan's Katayama says undervalued yen is problematic, agrees with Bessent on cooperation

The yen is the main read-through. Katayama's line that an undervalued yen is problematic, paired with her promise of close US Treasury contact, adds to verbal pressure on USD/JPY (around 157 in recent sessions) after August's joint intervention. Her denial that the government is reflationary and her stress on market-set rates may offer a little support to the yen and to JGB sentiment, but with no…

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