11
 

Most Asian stocks higher after China news; Nikkei up 2.14%

By Investing.com  |  Stock Market News  |  Mar 08, 2013 04:42AM GMT  |   Add a Comment
 
AA
+
-

Investing.com - Most Asian bourses are trading higher at this hour, following their U.S. counterparts higher while getting a lift from solid Chinese export data and a weaker yen.

Most Asian stocks higher after China news; Nikkei up 2.14%
In Asian trading Friday, Japan’s Nikkei 225 surged after a report showed that Japan’s GDP rose 0.2% in the fourth quarter following an initial reading that showed a contraction of 0.4%. Japanese shares also benefited from a weaker yen with USD/JPY rising 0.56% to the highest levels in nearly four years. The Nikkei is in position for its best weekly performance of 2013.

Hong Kong’s Hang Seng jumped 1.15%, but the Shanghai Composite fell 0.18% after a report showed hina’s January and February combined exports jumped 23.6%, easily topping analysts’ expectations for a 17.6% increase.

The Shanghai Composite may be trading lower due to the import data, which rose just 5% last month, well below the 10% increase economists expected. Industrial output data for January and February is expected to show a 10.5% increase when that number is published.

Australia’s S&P/ASX 200 rose 0.3% while New Zealand’s NZSE 50 added 0.47%, gains that indicate stocks in those countries are benefiting from AUD/USD and NZD/USD trading lower. Traders are bidding Australian and New Zealand stocks higher despite the Chinese import data. China is the largest trading partner for both Australia and New Zealand.

South Korea’s Kospi is off 0.09%, arguably do in large part to the weaker yen. South Korean electronics and automobile makers are major competitors to Japanese equivalents and a weaker yen is seen as damaging to South Korean shares.

Singapore’s Straits Times Index is lower by 0.19%. S&P 500 futures are lower by 0.07% head of the February non-farm payroll report due out from the U.S. Labor Department later today. Economists expect the U.S. economy, the world’s largest, to show the addition of 160,000 jobs last month.



Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Articles

Asian shares mixed, Shanghai Composite down after HSBC flash PMI
By 
Investing.com
 - Apr 23, 2014
   |    1
JetBlue Pilots Succeed In Union Vote On Third Try
By 
International Business Times
 - Apr 23, 2014

Add a Comment

 

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

NZD/USD
 
 
 
Are you sure you want to delete this chart?
 
 
 
Are you sure you want to delete this chart?
 
 
 

Successfully Reported

Thank you. This comment has been flagged for a moderator.
_touchLoadingMsg