Japanese Stocks Rise Despite Deflation Fears

September 24, 2015 Share Print 0

Japanese shares opened higher on Friday, recovering losses after the previous session’s sell-off when the market lost nearly 3%.

Investors seemed to ignore economic data that showed core consumer prices fell 0.1% in August from a year ago – marking the first annual drop since April 2013.

The decline in prices, which includes oil products but not fresh food, was expected by economists.
The Nikkei 225 was up 0.2% to 17,601.

The US dollar, meanwhile, rose in Asian trade after the head of US Federal Reserve Janet Yellen said the central bank was still on track to raise interest rates later this year.

The dollar was up about 0.2% to 120.30 yen from around 120.00 yen before her speech.

Shares of Sharp were down over 9% to hit a three-year low after local media reported the tech firm was likely to see a loss of 30bn yen ($250m; £163m) from the period from April to September.

Via BBC News

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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.