Asian stocks fall; Nikkei down 2.1%
Published Jan 26, 2014 11:20PM ET
Investing.com - Asian shares fell during the morning trade on Monday after the news of widening trade deficit in Japan and the increasing fear that Federal Reserve’s removal of monetary stimulus will negatively hit the economic growth in China and other emerging economies.
Get The News You Want
According to the data released by Japan’s Ministry of Finance, country’s year-on-year trade deficit in December widened to JPY1.302 trillion against expectations of 1.223 trillion. Exports rose by 15.3% year-on-year against expectation of 17.8% and imports rose 24.7% year-on-year against expectations of 26.1%.
At the same time, Bank of Japan board members largely agreed that an aggressive easy policy started in April 2013 has shown a cummulative effect on economic prospects and there is not an imminent need for additional steps, according to minutes from the Dec. 19 to 20 policy-setting meeting released on Monday.
In China, property developers China Vanke fell 2.4%, China Minsheng Bank fell 1.7% and Ping An Band fell 1.6%.
Hong Kong's Hang Seng Index was down 2.08%, China’s Shanghai Composite index fell 0.69%, while Japan’s Nikkei 225 Index was down 2.14%.
On Friday, U.S. stocks plummeted as part of a global selloff fueled by concerns that emerging markets may be cooling, which sparked a risk-off trading session marked by demand for safe-haven currencies.
Investors fleeing risk avoided U.S. stocks on sentiments many countries carry exposure to emerging markets.
Elsewhere on Friday, Microsoft released earnings that beat expectations, while consumer products giant Procter & Gamble missed many analysts' expectations though the company said it was sticking with 2014 revenue forecasts.
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.