Japanese Stocks Rose Despide Trade Data

Japanese shares headed higher on Thursday despite trade data for August coming in below market expectations.

Exports rose 3.1% from a year ago, falling short of the 4% predicted, while imports fell a more-than-expected 3.1% in the same period.

Investors also ignored a credit rating downgrade for Japan by US ratings agency S&P, because of a weakening outlook for the economy.

Japan’s benchmark Nikkei 225 index closed up 1.4% to 18,432.27.

The index has risen for a third consecutive day.

Australian shares headed higher, following the global lead, after US shares were positive ahead of the Federal Reserve’s decision on whether to raise interest rates for the first time in almost a decade.

via BBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
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 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