Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Asian shares mostly gain despite headwinds from China data, Nkorea

Stock MarketsMay 15, 2017 12:01AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Asian shares mostly gain

Investing.com- Asian shares mostly rose on Monday outside of Tokyo despite headwinds from a weekend missile test by North Korea and concerns over further spread of ransomware cyberattacks globally.

Japan's benchmark Nikkei 225 fell 0.12%. The Kospi shrugged off North Korea's latest missile launch and reversed earlier losses to trade 0.39% and Australia S&P/AX 200 rose 0.08%. Miner BHP Billiton (LON:BLT) is expected to unveil plans to unlock greater value from its shale assets after hedge fund Elliott Management urged the company to restructure last month, Reuters said. The company also dropped the "Billiton" in its name as part of a rebranding exercise. BHP shares fell 0.36%.

Also in Australia, Fairfax Media was reportedly offered A$2.76 billion ($2.04 billion) by TPG Capital Management for the entire company. An earlier bid by TPG had only targeted Fairfax's main newspapers and property listings arm. Fairfax shares surged 7.24% on the news.

The Hang Seng Index gained 0.56% and the Shanghai Composite added 0.26%. China reported industrial production rose a less than expected 6.5%, missing a 7.5% gain seen. As well, China said retail sales for April rose 10.&% on year, more than the 10.^% seen, and fixed-asset investment gained 8.9%, below the 9.1% expected.

Last week, U.S. stocks closed mostly lower on Friday, as investors fled retail stocks for a second straight day amid fears of a slowdown in the retail sector while weaker than expected economic data weighed on upside momentum.

Retailers led the decline, in the major U.S. indexes, as shares of JC Penney Company Inc Holding (NYSE:JCP) dropped 14%, after the company beat earnings expectations but fell short of comparable-store sales estimates.

The slump in shares of JC Penny, came a day after department store chain, Macy’s Inc (NYSE:M) dropped 17%, after reporting earnings that missed estimates on both the top and bottom line.

Meanwhile, weaker than expected economic data dampened expectations of a rebound in U.S. economic growth for the second quarter, as both inflation and core retail sales data fell short of expectations.

Core Retail Sales, an important indicator used to gauge the strength of the U.S. economy, increased by 0.3% last month, compared to expectations for a 0.5% rise.

Elsewhere, the Labor Department said consumer prices rose 0.2% after a 0.3% drop in March, which was the biggest fall in more than two years.

On the political front, investors parsed through a tweet from Donald Trump, after he warned recently dismissed FBI chief James Comey, against leaking information to the press.

The Dow Jones Industrial Average closed at 20,896.61, down 0.11%. The S&P 500 lost 0.15% while the Nasdaq Composite closed at 6121.23, up 0.09%.

Asian shares mostly gain despite headwinds from China data, Nkorea
 

Related Articles

Evergrande Jumps Even as Its Fate Remains Uncertain
Evergrande Jumps Even as Its Fate Remains Uncertain By Investing.com - Sep 27, 2021

By Dhirendra Tripathi Investing.com – Evergrande stock (HK:3333) closed 7.6% higher in Hong Kong trading Monday as the Chinese central bank repeated its determination to keep...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other 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, don’t trash it.

  •           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. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • 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.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
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.
Continue with Google
or
Sign up with Email