Japanese shares charged up to a 8-year-high on Monday, shrugging off weaker-than-expected growth figures released before the market opened, while markets in Australia reacted negatively to a slew of corporate earnings.
Japan’s Nikkei 225 index broke above the 18,000 level, hitting its highest level since July 2007, following data that showed the world’s third-largest economy crawling out of recession in the final quarter of 2014. Gross domestic product grew an annualized 2.2 percent, but missed a Reuters poll expecting a 3.7 percent gain. Meanwhile, dollar-yen hovered near a one-and-a-half-week low of 118.7.
Australian shares were a touch lower early Monday on the back of dismal trading in the banking and resources heavyweights. Last Friday, the S&P ASX 200 index broke a four-session losing streak to settle at a seven-year high.
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.