Hong Kong shares tumbled on Monday on negative signs from national economy. Chinese GDP growth slowed last quarter to 7.7%, while experts expected the economy to expand by 8.0%. Adding to fears over domestic economy, China's industrial production declined to 8.9% in March from 9.9% in the preceding month. Analysts predicted industrial production to rise to 10.0% last month.
Japanese shares plunged on Monday after the U.S. urged Japan to refrain from its currency devaluation. Pushing Japanese equities lower, closely watched China's data came weaker-than-expected. However, losses were limited as traders are optimistic about Asian stock markets. Nomura Securities now expects Nikkei to soar to 16,000 by the end of the year amid massive stimulus measures by the BoJ.
U.S. blue chips traded flat on Friday amid weaker-than-expected U.S. data releases. Moreover, caution ahead of key China's figures due on Monday added pressure on the U.S. stocks. The Dow Jones Industrial Average Index was unchanged, hovering near 14,865.06. Only four out of nine industries within the index advanced. The top-performers were consumer services and telecommunications, climbing 1.31% and 0.45%.
U.S. stocks closed in the negative area on Friday on disappointing data releases from the domestic economy. U.S. retail sales unexpectedly fell 0.4% in March, while experts predicted a 0.1% increase. Moreover, preliminary University of Michigan Consumer Sentiment Index plunged to a nine-month low this month. The S&P 500 Index lost 0.28% to close at 1,588.85. A half of industries
The Yen advanced 0.5% to 97.88 per U.S. Dollar by midday trading session in Tokyo on Monday. The currency appreciated against the 16 major counterparts, as Chinese GDP growth slowed unexpectedly and spurred demand for safer assets. China's gross domestic product added 7.7% in the first quarter of 2013 and that was lower than an 8% forecast of analysts and
Farm commodities apart from coffee were bullish on Friday amid escalated weather concerns in the U.S., Canada and Russia. Cold weather in the world's top growing regions threatens winter wheat crops and delays early planting. Wheat rose for the second consecutive session as cold temperatures may damage winter crops. Moreover, a confirmation of China's wheat purchase from the U.S. continued
Energy futures except for natural gas traded in the red area on Friday on weaker-than-expected U.S. numbers and record high U.S. stockpiles. U.S. Retail sales unexpectedly dropped 0.4% last month, weighing on energy demand prospects. Recent cuts of oil demand outlook by the IEA and OPEC also continued to pressurize commodity group. Crude and Brent oil fell as U.S. stockpiles surged
Industrial metals were bearish on Friday amid weak numbers from the U.S. and China's demand worries. Continuous surplus on physical markets as well as rising LME inventories also pushed the commodity sector lower. However, weaker U.S. Dollar lent some support to base metals. Aluminum plunged despite a slight drop in LME inventories. Stocks at LME warehouses dipped 10,800 tonnes on Thursday
Precious metals finished last week on the negative note as Wednesday's FOMC minutes raised concerns that the Fed may end its growth-boosting measures sooner-than-expected. However, disappointing numbers from the U.S. economy coupled with weaker greenback limited the downward trend. Gold closed near a 21-month low amid persistent decline in investment demand. Holdings in ETPs backed by the yellow metal dropped 2,406.16
Gold spot price lost 6.2% to $1,483 an ounce last week, what was the biggest slide since December 2011. However, financial institutions, such as hedge funds, added more bullish bets on gold, net long positions increased by 19% in the week ended at 9th of April, as the precious metal market entered a bear's market. Also, investors are affected by Goldman
The Canadian Dollar, also known as kiwi, depreciated by 0.3% to 1.0136 per U.S. Dollar in the morning of Toronto trading hours on Friday. The kiwi lost its value against the U.S. counterpart for the first time this week, as sales data in the U.S was the worst in previous nine months. Sales were 0.4% worse in March, as in February
West Texas Intermediate oil futures for May settlement were lower by $2.90, or 3.1%, to $90.61 per barrel by midday trading session in New York on Friday. The price of oil slipped to a one-month bottom, as Commerce Department announced retail sales numbers, which indicated a 0.4% slide in sales in March, the most since June, 2012. Also, an index
The 17-nation bloc currency decreased against the majority of its counterparts on Friday amid concerns about escalating debt crisis before a meeting of the Eurozone's finance ministers discussing situation in Cyprus, Greece and Slovenia. The Euro dip 0.2% to $1.3072 earlier on Friday London session after it rose to its strongest since February 28 at $1.3138 yesterday.
The Australian and New Zealand's currencies are heading for a weekly gain on Friday before a data showed that Chinese economy expanded at the fastest rate in a year in the Q4 and amid speculation that BoJ's monetary easing will increase demand for overseas investments. The Australian Dollar rose 0.1% to $1.0550 after touching the highest since January 11 at
Core inflation in Spain stayed flat in March from the month before, however, the overall consumer price index dropped in line with original estimates from 2.8% in February to a level of 2.4% in March, the statistical office INE reported on Friday. The report showed the core CPI excluding fresh food and energy remained at 2.3% in March, the highest
Industrial output in the 17-nation bloc rose at the faster pace than preliminary estimated on February after it was falling in the previous month, a data revealed by the statistical office Eurostat showed on Friday. According to the data industrial production advanced 0.4% in February reversing a 0.6% decline recorded in January, while it was forecast to gain 0.2% in
British economy's leading economic indicator improved for the second consecutive month on February suggesting that the U.K. economy may avoid a triple-dip recession recovering modestly later this year, the Conference Boards reported on Friday. The leading economic index rose 0.4% on a monthly basis to 102.4 in February after increasing 0.2% in the prior month.
Wholesale price inflation in Germany increased at the weakest rate since December 2009 in March with the wholesale price index rising annually by 0.3% after gaining 1.4% in the previous month, a report released by the Federal Statistics unveiled on Friday. The report also showed the headline index declined 0.2% on a monthly basis in March following a 0.1% jump the month before.
Hong Kong shares retreated on Friday, as analysts expect the Chinese economy to grow slower than expected in January-March. The Hang Seng Index lost 0.1%, or 12.22 points, to 22,089.05. Utilities and financials increased the most by adding 0.6% and 0.1%, respectively. Esprit Holdings Ltd, a manufacturer and retailer of fashion clothes, surged 1.7% to HK$9.99. Furthermore, Henderson Land Development
Inflation based on the consumer price index in India slowed down in March after it was rising for five successive months, a report released by the Central Statistics Office showed on Friday. The report showed the general CPI advanced 10.39% on an annual basis in March following a 10.91% increase recorded in February; the March's level is the lowest since
Japanese equities traded red on Friday as the Yen appreciated against the Dollar weighing on the blue-chip companies dependent on exports. The Nikkei 225 Index declined 0.5%, or 64.02 points, to 13,485.14, yet close to its highest value in 20 months. Japanese electric companies were among the top performers, as the utility sector surged 2.9%. Tokyo Electric Power Co Inc
French current account balance came in deficit in February from the month before, however, the current account gap narrowed, a data released by the Bank of France revealed on Friday. The data said the seasonally adjusted current account deficit shrank to 4.947 billion euros in February from January's level of 5.020 billion euros, while in February the current account gap
U.S. blue chips surged on Thursday, as jobless-benefit claims fell more than expected. In addition, retailers jumped amid advance in March sales. The Dow Jones Index climbed 0.4% to 14,865.14 points, the highest value ever. 25 out of 30 companies and eight out of nine sectors included in the gauge posted gains. Pfizer Inc, a pharmaceutical corporation, rallied 2.4% to
Gold futures are set to record its third weekly loss as investors are seeking for higher-yielded assets amid speculation the Federal Reserve may begin pulling back its bond purchases as the economy recovers. Bullion for delivery in April was traded at $1,563.60 an ounce as of 2 p.m. Singapore time after it declined to the lowest in one week at