Asian stocks mostly higher following data deluge; Nikkei down 0.71%
Published Aug 29, 2013 10:44PM ET
In Asian trading Friday, Japan’s Nikkei 225 fell 0.71% after the Statistics Bureau said that Japan’s core consumer price inflation was 0.7% last month after reading 0.4% in June. Analysts expected a July reading of 0.6%.
Tokyo’s core CPI, which excludes fresh food costs, rose to 0.4% last month from 0.3% in June. Analysts expected the July reading of 0.4%. The Statistics Bureau also said Japanese household spending was up 0.1% last month after a June decrease of 0.4%. Analysts expected an increase of 0.3%.
In a separate report, Japan’s Ministry of Economy, Trade and Industry said that industrial production in the world’s third-largest economy increased 3.2% in July after a 3.1% June decline. That missed analysts’ expectations for a 3.7% increase.
The Statistics Bureau said Japan’s unemployment rate fell to 3.8% from 3.9% in June. Economists expected the July unemployment rate to be unchanged from June.
Hong Kong’s Hang Seng inched down 0.09%, but the Shanghai Composite rose 0.42%. Energy stocks were again in focus in Hong Kong.
Australia’s S&P/ASX 200 Index advanced 0.3% after the Reserve Bank of Australia said that Australian private sector credit rose 0.4% in July after a 0.4% increase in June. Analysts expected a July increase of 0.3%.
New Zealand’s NZSe rose 0.25% after Statistics New Zealand said that New Zealand said building consents there rose to -0.8% in July from -4% in June. Analysts had expected New Zealand Building Consents to rise to 1.3% last month.
South Korea’s Kospi added 0.54%. In a report released earlier Friday, the Korea National Statistical Office said that South Korean industrial production rose 0.9% last month after a 2.5% decline in June. Analysts expected a July increase of 0.5%.
Singapore’s Straits Times Index fell 0.19%. S&P 500 futures rose 0.12% a day after the benchmark U.S. index gained 0.12%.
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Written By: Investing.com
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