Asian Stocks Higher As Traders Ignore Japan GDP Disappointment

Asian stocks gained, with the regional benchmark index poised to advance for the eighth time in nine days, after a report showing China’s new credit increased to a record in January.

The MSCI Asia Pacific Index added 0.5 percent to 135.97 as of 9:03 a.m. percent in Tokyo. The gauge climbed 1.6 percent last week, capping its first weekly increase this year, as trade data from China beat estimates and Janet Yellen’s first official address as head of the Federal Reserve buoyed optimism about the U.S. economy.

Japan’s Topix index rose 0.2 percent. The nation’s economy grew less than forecast in the final quarter of last year, according to a report today. Gross domestic product expanded an annualized 1.0 percent from the previous quarter, the Cabinet Office said in Tokyo. That compared with the 2.8 percent median estimate of economists surveyed by Bloomberg News.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu