Japanese stocks dropped after weak GDP data

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Japanese stocks moved lower as the nation's economy grew less than expected in Q2 amid weak consumer spending. Meanwhile, traders continued to anticipate key economic data releases from the US due this week. Nikkei 225 Index lost 0.07% to close at 8,885.15. Sectors included in the index were mixed; six sectors followed downward trend while four industries managed to climb. Among top-gainers were utilities and financials. Chubu Electric Power and Kansai Electric Power rose by 1.48% and 1.06%. Among financials, Aozora Bank edged up by 0.49% while Shinsei Bank dropped 1.04%. Meanwhile, the largest gainer was Nippon Sheet Glass that soared more than 10% after news that the company will resume the construction of Vietnam's touch screen panel plant. At the same time, oil and gas industry as well as industrials moved lower. Inpex and JX Holdings tumbled 0.53% and 1.67%. Sharp continued its slump as the firm revised down its full-year profit forecast.

 

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