12091
Japan Shares Hit New 15-Year High
World Economy

Japan Shares Hit New 15-Year High

Japan’s benchmark Nikkei index edged up to a new 15-year high on Friday as the yen weakened against the dollar, with investors shrugging off some disappointing economic figures.
In Tokyo, the benchmark Nikkei 225 closed slightly higher, up 0.06% at 8,797.94 points. The dollar was buying 119.36 yen on Friday, after rising overnight from a Thursday low of 118.68 yen in the US, Reuters said.
A weaker yen helps Japan’s big exporting companies. It makes their products more affordable overseas and gives a boost to their earnings.
However, latest figures from Japan’s Ministry of Economy showed that Japanese households had cut spending by more than expected in January and that retail sales had fallen for the first time in seven months.
Separate data also showed that Japan’s core inflation had slowed to 0.2% in January compared with a year earlier. Japan has suffered nearly two decades of deflation and the Bank of Japan’s target for inflation is 2%.
Factory output was one bright spot for investors, with official numbers showing it had jumped 4% in January from a month earlier, exceeding analysts’ expectation.
However, not all analysts were upbeat about the factory data.
“While industrial production surged in January, firms are predicting a renewed decline in coming months as consumer spending remains sluggish,” Japan-based economist Marcel Thieliant of Capital Economics said.

  Elsewhere in Asia
Markets were mixed across the rest of Asia on Friday as energy-related shares were affected by lower oil prices.
Hong Kong’s Hang Seng index closed down 0.3% at 24,823.29, while the Shanghai Composite index ended the day up 0.4% at 3,310.30.
Australia’s benchmark S&P/ASX 200 also moved into positive territory to close up 0.34% at 5,928.80. Sydney-listed shares in Woolworths, one of Australia’s largest supermarket chains, were down as much as 8% after the firm posted disappointing results for the six months to December.
The supermarket giant announced on Thursday a 3.1% fall in profits to 1.3b Australian dollars ($1.01b).
Melbourne-based Treasury Wine Estates (TWE), the maker of Penfolds and one of the world’s biggest listed wine companies, had some good news though, posting a net profit of A$42.6m ($33.21m) for the six months to December.
The results mark a turnaround from the A$100.9m loss it reported for the full 2014 financial year.
In Korea, after a seven day rally, the Kospi share index was down 0.37% at 1,985.80.

 

Short URL : http://goo.gl/zPTduU

You can also read ...

If both sides continue with tit-for-tat tariffs, the inflation would lead to further increases in interest rates  and give rise to disturbances in the currency markets.
The trade war between the US and China risks substantially...
Hong Kong’s GDP fell to 3.5% in the second quarter.
The outlook for Hong Kong’s economy is darkening as rising...
Norway to Surpass Sweden
Sweden’s economic prospects have dimmed in recent months and...
Crypto Market Struggles as Bitcoin Dips Below $6,000
Bitcoin touched below $6,000 and dozens of smaller digital...
China Growth Momentum Slows
China’s economy hit a mid-year rough patch as efforts to curb...
Many emerging market economies are better prepared now because they have a good international reserve position and they allow their exchange rates  to float more freely.
Italian economist Claudio Borio is considered an authority in...
Bankruptcy Soars Among Elderly in United States
A growing number of retirees in the US are filing for...
German Economy Beats Forecasts
Unfazed by a mounting number of uncertainties, Europe’s...

Trending

Googleplus