With disappointing data, both domestically and from China (see previous posts on this blog), and with the yen roughly where it was on Friday, Japanese stocks are moving lower.The Nikkei Average is down 0.6%, eating into Friday’s 0.9% advance, while the Topix is weaker by 0.5%.The Cabinet Office says the economy grew just 0.2% (0.7% annualized) in October-December, not 0.3% (1% annualized) as it had initially reported. Japan also posted its fourth current-account deficit in a row in January, with the gap of ¥1.589 trillion ($15.4 billion) in January outpacing a projected deficit of ¥1.4 trillion.
Australia stocks are trading solidly lower, as disappointing Chinese trade data and a plunge in some metals prices are yanking miner shares lower. At this point, the S&P/ASX 200 is down 0.5%, wiping Friday’s 0.3% gain clean away.
Australia stocks are trading solidly lower, as disappointing Chinese trade data and a plunge in some metals prices are yanking miner shares lower. At this point, the S&P/ASX 200 is down 0.5%, wiping Friday’s 0.3% gain clean away.