Japanese equities plunge on China's numbers

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Source: Dukascopy Bank SA
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. The Nikkei 225 Index slumped 1.55% to finish the session at 13,275.66. Two industries jumped. The only gainers were utilities and industrials, adding 4.00% and 1.48%. Among utilities, Kansai Electric Power Co and Tokyo Electric Power Co jumped 14.70% and 12.71%. A notable mover was also Sharp Corp, climbing 10.45%, the third-largest increase in Nikkei. The TV-maker decided to sell 9.2% stake in Pioneer Corp. On the downside were energy as well as financial stocks. Inpex Corp and Showa Shell Sekiyu dipped 2.83% and 1.82%, while Sony Financial Holdings and Chiba Bank Ltd lost 3.52% and 2.97%.
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Mon, 15 Apr 2013 12:45:03 GMT

Hong Kong stocks tumble as China's economy slows

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.

Mon, 15 Apr 2013 15:36:04 GMT

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