Japan’s Nikkei Gets GDP Boost

Japanese stocks were up more than 0.8% on Wednesday after the country posted better-than-expected growth for the three months to March.

Japan’s economy, which is the world’s third-largest, expanded 0.6% in the period compared with the previous three months, marking its second consecutive quarter of growth.

The Nikkei index closed up 0.85% at 20,196.56 points.

Japan’s economic growth was far better than the 0.4% analysts had expected.

In China, Hong Kong’s benchmark Hang Seng index reversed earlier gains to close down 0.4% at 27,585.05.
Shares in China’s Hanergy Thin Film, a solar power firm listed in Hong Kong, were suspended from trade after falling close to 50% on Wednesday.

In a statement to the stock exchange, the firm said trading had been suspending “pending release of an announcement containing inside information”.

Meanwhile, on the mainland, the Shanghai Composite index closed up 0.7% to 4448.29, continuing to rise on the strength of Beijing’s commitment to reform its financial markets this year.

In Australia, the S&P/ASX 200 closed flat, down 0.09% at 5,610.30 points, failing to follow the lead of the US, where the Dow Jones closed at another fresh all-time high.

via BBC

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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 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