View the article online at http://citywire.co.uk/money/article/a644389
Asian markets oscillate between gains and losses
Reports from China provided a mixed picture of the nation’s economy, while revised estimates showed Japan’s economy shrank.
Asian markets oscillated between gains and losses on Monday on upbeat U.S. jobs data and as reports from China provided a mixed picture of the nation’s economy, while revised estimates showed Japan’s economy shrank.
The MSCI Asia Pacific Index fell less than 0.1% to 126 as of 1:21 p.m. Tokyo time. Japan’s Nikkei 225 Stock Average was little changed, while the broader Topix slipped 0.3%. The country’s gross domestic product contracted for a second consecutive quarter in the three months through September, putting the nation’s economy into a technical recession.
In China, Shanghai Composite Index climbed 0.5% after the nation’s exports increased 2.9% in November from a year earlier, compared with the 9% median estimate of 31 analysts in a Bloomberg News survey and an 11.6% increase in October.
Industrial production rose 10.1% in November from a year earlier and retail sales growth rose to 14.9%, while inflation was 2%, the statistics bureau said on Sunday.
Hong Kong’s Hang Seng Index rose 0.4% and Australia’s S&P/ASX 200 Index gained 0.2%. Singapore’s Straits Times Index was up 0.7%. South Korea’s Kospi Index was little changed, erasing gains of as much as 0.7 percent.
In corporate news, Yue Yuen Industrial Holdings Ltd., a maker of shoes for Nike Inc., rose 1.7% in Hong Kong. Aluminum Corp. of China Ltd., the nation’s biggest producer of the lightweight metal, added 2.4% after Chinese industrial production beat estimates. Advantest Corp., the largest producer of semiconductor-testing devices, jumped 5.3% in Tokyo after the company said he expects new orders will rise 20% this quarter.
News sponsored by:
The Citywire guide to investment trusts
In association with Aberdeen Asset Management
What can SLI bring to the table for those who want to put their money into investment trusts?
More about this:
Tools from Citywire Money
From the Forums
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add firstname.lastname@example.org to your safe senders list so we don't get junked.
by Daniel Grote on Oct 02, 2014 at 08:00