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Asian Stocks Mixed After China and Japan Data

Asian shares were mixed on Thursday after trade data from the world’s third-largest economy, Japan, showed that global demand was picking up.

Japan’s exports rose more than expected, by 9.6% in October from a year ago, which was the fastest pace since February.

That compared with a 6.9% year-on-year rise in September.

The benchmark Nikkei 225 closed up 0.07% at 17,300.86 points, after closing down 0.3% on Wednesday.

Meanwhile, in Shanghai shares closed flat after a survey showed that China’s factory sector stalled in November with output contracting for the first time in six months.

The flash HSBC/Markit manufacturing purchasing managers’ index (PMI) fell to a six-month low of 50 from a final reading of 50.4 in October.

The reading was also well below market expectations of 50.3. The factory output sub-index fell to 49.5, the first contraction since May.

A reading above 50 indicates expansion.

The Shanghai Composite closed just 1.67 points higher at 2,452.66 points, while Hong Kong’s Hang Seng index closed down 0.10% at 23,349.64 points.

via BBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza