Asian stocks tumble as small companies plummet

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Source: Bloomberg
© Scanpix Reuters

Chinese stocks retreated to the seven-week low, after small businesses reported decrease in sales and the People's Bank of China failed to decrease money rates. The Shanghai Composite Index depreciated 1.7%, thus loosing total of 3.4% this month and coming closer to the first fall in four months. Zhejiang Beigmate Technology Industry & Trade Co. plummeted 8.9% after announcing reduction in net income. Tsinghua Tongfang Co. slipped 6.2%, thus having the biggest drop from tech companies.

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Tue, 29 Oct 2013 08:36:03 GMT

Japan's household spending notably increase in September

Household spending in the Asia's second largest economy notable increased on the month of September, when the figure advanced 3.7% on an annual basis standing at 280,692 yen, a report published by the Ministry of Internal Affairs and Communication revealed on Tuesday. The report also showed that the average monthly income per household was 431,931 yen.

Tue, 29 Oct 2013 07:41:03 GMT

Yen surges on retail sales

The Japanese Yen advanced versus all of its 16 major counterparts, after Japan reported an increase of 1.8% in retail sales that exceeded estimates. The Japan also faced decrease in unemployment by 0.1% in September. The Yen gained 0.2% against the Eurozone's currency and 0.1% versus the U.S. Dollar, thus ending the two-day fall. The Bank of Japan is going to release new forecast on economies

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