Asian stocks were seen trading mixed on Friday with Japanese stocks leading gains, following the inflation report released. Positive macro data from China and the eurozone increased hopes for the global economy.
The International Monetary Fund lowered its outlook for the global growth this year as expansion weaken from China, weaker growth in the US, Russia and developing countries and the ongoing geopolitical tensions increases the risk of a surge in crude prices. The global growth will expand 3.4% in 2014, lower than the 3.7% forecasted in April, IMF said. The world economy is expected to advance to 4% next year, compared to April’s prediction of 3.9%, according to the fund.
Meanwhile, China is expected to grow 7.4% this year, lower than the 7.5% projected in April, according to the IMF. While next year’s growth is expected to fall to 7.1%, down from April’s forecast of 7.3%.
Japan
The Japanese benchmark Nikkei 225 index added 1.13% to 15,454.87 at the time of writing, while Tokyo’s Topix index rose 0.76% to 1,279.60.
The nation’s yen traded flat against the US dollar, trading at 0.1% to 101.76 yen at the time of writing. Shimizu Corporation saw the most gains on the Nikkei 225 index, with shares climbing 6.8%, while Advantest slid 7.2% lower after posting its profit missing estimates.
China
Hong Kong’s Hang Seng index slid 0.04% lower to 24,139.00, while the Chinese mainland Shanghai Composite edged 0.43% higher to 24,108.00.
Belle International Holdings saw major gains during the session as it added 5%, while the property developer China Resources lost 3.2%.
US Economy
Investors’ sentiment was lifted after US jobs report for last week fell to its lowest since 2006. While a separate report from the US Commerce Department showed that sales for new homes fell 8.1% in June.
Futures on the S&P 500 reached another record high, while Wall Street closed the session near the flatline.
Australia
In Sydney, the benchmark S&P/ASX 200 fell 0.10% to 5,582.00.
Acrux gained the most during the session, with shares jumping 21.2%, while the cleaning products manufacturer, GUD Holdings lost 8.2%. Treasury Wine Estates fell 1.8% to A$4.99 after Credit Suisse Group reduced its share-prices estimates by 33% to A$3.15 and proposed transaction with KKR is unlikely.
European Stocks
Stocks in Europe continue to trade in the bearish mood on Friday.
The European Euro Stoxx 50 fell 0.29% lower to 3,210.97, while the German DAX slid 0.22% to 9,772.73. The French CAC 40 declined 0.67% to 4,381 and UK’s benchmark FTSE 100 edged 0.13% lower to 6,812.31.
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Asian Stocks
Asian stocks were seen trading mixed on Friday with Japanese stocks leading gains, following the inflation report released. Positive macro data from China and the eurozone increased hopes for the global economy.
The International Monetary Fund lowered its outlook for the global growth this year as expansion weaken from China, weaker growth in the US, Russia and developing countries and the ongoing geopolitical tensions increases the risk of a surge in crude prices. The global growth will expand 3.4% in 2014, lower than the 3.7% forecasted in April, IMF said. The world economy is expected to advance to 4% next year, compared to April’s prediction of 3.9%, according to the fund.
Meanwhile, China is expected to grow 7.4% this year, lower than the 7.5% projected in April, according to the IMF. While next year’s growth is expected to fall to 7.1%, down from April’s forecast of 7.3%.
Japan
The Japanese benchmark Nikkei 225 index added 1.13% to 15,454.87 at the time of writing, while Tokyo’s Topix index rose 0.76% to 1,279.60.
The nation’s yen traded flat against the US dollar, trading at 0.1% to 101.76 yen at the time of writing. Shimizu Corporation saw the most gains on the Nikkei 225 index, with shares climbing 6.8%, while Advantest slid 7.2% lower after posting its profit missing estimates.
China
Hong Kong’s Hang Seng index slid 0.04% lower to 24,139.00, while the Chinese mainland Shanghai Composite edged 0.43% higher to 24,108.00.
Belle International Holdings saw major gains during the session as it added 5%, while the property developer China Resources lost 3.2%.
US Economy
Investors’ sentiment was lifted after US jobs report for last week fell to its lowest since 2006. While a separate report from the US Commerce Department showed that sales for new homes fell 8.1% in June.
Futures on the S&P 500 reached another record high, while Wall Street closed the session near the flatline.
Australia
In Sydney, the benchmark S&P/ASX 200 fell 0.10% to 5,582.00.
Acrux gained the most during the session, with shares jumping 21.2%, while the cleaning products manufacturer, GUD Holdings lost 8.2%. Treasury Wine Estates fell 1.8% to A$4.99 after Credit Suisse Group reduced its share-prices estimates by 33% to A$3.15 and proposed transaction with KKR is unlikely.
European Stocks
Stocks in Europe continue to trade in the bearish mood on Friday.
The European Euro Stoxx 50 fell 0.29% lower to 3,210.97, while the German DAX slid 0.22% to 9,772.73. The French CAC 40 declined 0.67% to 4,381 and UK’s benchmark FTSE 100 edged 0.13% lower to 6,812.31.
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