Japanese equities inched down on dismal national numbers

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

Japanese equities retreated on Monday after ending the previous week with sharp gains.  Dismal national economic data created heavy pressure on Japan's stocks. The country's GDP expanded less than expected in Q2 while current account balance missed forecast in August. Additionally, exporters were hit by stronger Yen against the US Dollar amid speculation that the Fed will loosen its monetary policy. The Nikkei 225 Index edged down by 0.03% to end the session at 8,869.37. Six out of ten sectors within the index climbed. The top-performers were telecommunications and basic materials.  KDDI and Softbank added 1.08% and 1.71% while Dowa Holdings and Kobe Steel rose 0.19% and 1.61%, tracking gains of China's basic material producers. Sending the Japan's stock index lower, technology companies tumbled 1.82% after Intel downgraded its profit estimation. Canon, Citizen Holdings and Kyocera dropped 1.39%, 1.16% and 1.08%, respectively.

 

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