Stocks in the Asian region were seen swinging in between gains and losses on Thursday, after the US released its economic growth report for the second quarter and the Federal Reserve (Fed) statement. Meanwhile Samsung Electronics and Nintendo shares dropped after posting lower second quarter figures.
Asian Stocks
The Japanese benchmark Nikkei 225 index slid 0.16% lower, ending at 15,620.77, while Tokyo’s Topix index declined 0.22% to 1,289.42.
In Japan, the electronic manufacturers Casio computer rallied 7.83%, while Nintendo slumped 6.5% to 11,525 yen after the company reported its third loss in the past four quarters. The battery maker GS Yuasa declined 6.45%.
Hong Kong’s Hang Seng index edged 0.25% lower to 24,669.73 at the time of writing, while the Chinese mainland Shanghai Composite gained 0.20% to 2,185.31.
The Chinese property developer China Overseas gained 4.62%, while the oil and gas company Petrochina lost 3.07% in shares.
The South Korean Kospi index fell 0.31% lower, closing at 2,076.12.
Samsung Electronic tumbled 3.7% to 1.343 million won in Seoul after themultinational conglomerate posted a fall in its second-quarter net income. Profit fell 19.6% in the three months ending June due to weak smartphone sales.
Australia
In Sydney, the benchmark S&P/ASX index edged 0.10% higher, trading at 5,628.30.
Acrux saw the most gains during the session as shared surged 6.29%, while the Australian rare earth miner Lynas declined 17.01%.
Australian building approvals fell lower than forecasted in June but managed to increase from last year as they came in 16% higher on a yearly basis in June, compared to analysts forecast of a 23.3% rise.
While on a monthly basis, building approvals came in 5% lower from May, according to the Australian Bureau of Statistics.
US Economy
The world’s largest economy expanded in the second quarter, according to the first estimates. Report from the US Commerce Department showed that the US gross domestic product expanded an annualized 4% in the second quarter, compared to analysts’ estimates of a 3% expansion.
The Federal Open Market Committee statement was released on Thursday and showed Fed policy makers tapered monthly asset purchases by a further $10 billion to $25 billion as widely expected. The statement also showed that Fed officials and the Fed Chair Janet Yellen are debating over when to increase interest rates as the labour market remains weak.
European Stocks
European stocks fell sharply, dragged lower by the earnings report and the economic data from the eurozone and Germany.
The European Euro Stoxx 50 slid 1.17% lower to 3,134.30 at the time of writing, while the French CAC 40 declined 0.96% to 4,270.80.
The German DAX edged 1.21% lower to 9,477.50 and the UK’s benchmark FTSE 100 lost 0.42% to 6,745.30.
Economic Reports
Germany reported a fall in the number of unemployment in the country, as the unemployment figure came in at 12,000 in July, following the revised 7,000 seen in the previous month. While the unemployment rate remained unchanged at 6.7%, according to fresh reports.
Meanwhile, the retail sales in Germany advanced 1.3% in June on a monthly basis, compared to the 0.6% fall seen in May and 0.4% year-on-year, the German Statistical Office Destatis showed.
In Italy, the jobless rate fell to 12.3% in June, from 12.6% in the previous month, according to the National Institute for Statistics.
Inflation in the eurozone slowed to 0.4% on a yearly basis in July, while the jobless rate for the 18-nation bloc dropped to 11.5% in June, compared to 11.6% in May, the European statistical office said.
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Stocks in the Asian region were seen swinging in between gains and losses on Thursday, after the US released its economic growth report for the second quarter and the Federal Reserve (Fed) statement. Meanwhile Samsung Electronics and Nintendo shares dropped after posting lower second quarter figures.
Asian Stocks
The Japanese benchmark Nikkei 225 index slid 0.16% lower, ending at 15,620.77, while Tokyo’s Topix index declined 0.22% to 1,289.42.
In Japan, the electronic manufacturers Casio computer rallied 7.83%, while Nintendo slumped 6.5% to 11,525 yen after the company reported its third loss in the past four quarters. The battery maker GS Yuasa declined 6.45%.
Hong Kong’s Hang Seng index edged 0.25% lower to 24,669.73 at the time of writing, while the Chinese mainland Shanghai Composite gained 0.20% to 2,185.31.
The Chinese property developer China Overseas gained 4.62%, while the oil and gas company Petrochina lost 3.07% in shares.
The South Korean Kospi index fell 0.31% lower, closing at 2,076.12.
Samsung Electronic tumbled 3.7% to 1.343 million won in Seoul after themultinational conglomerate posted a fall in its second-quarter net income. Profit fell 19.6% in the three months ending June due to weak smartphone sales.
Australia
In Sydney, the benchmark S&P/ASX index edged 0.10% higher, trading at 5,628.30.
Acrux saw the most gains during the session as shared surged 6.29%, while the Australian rare earth miner Lynas declined 17.01%.
Australian building approvals fell lower than forecasted in June but managed to increase from last year as they came in 16% higher on a yearly basis in June, compared to analysts forecast of a 23.3% rise.
While on a monthly basis, building approvals came in 5% lower from May, according to the Australian Bureau of Statistics.
US Economy
The world’s largest economy expanded in the second quarter, according to the first estimates. Report from the US Commerce Department showed that the US gross domestic product expanded an annualized 4% in the second quarter, compared to analysts’ estimates of a 3% expansion.
The Federal Open Market Committee statement was released on Thursday and showed Fed policy makers tapered monthly asset purchases by a further $10 billion to $25 billion as widely expected. The statement also showed that Fed officials and the Fed Chair Janet Yellen are debating over when to increase interest rates as the labour market remains weak.
European Stocks
European stocks fell sharply, dragged lower by the earnings report and the economic data from the eurozone and Germany.
The European Euro Stoxx 50 slid 1.17% lower to 3,134.30 at the time of writing, while the French CAC 40 declined 0.96% to 4,270.80.
The German DAX edged 1.21% lower to 9,477.50 and the UK’s benchmark FTSE 100 lost 0.42% to 6,745.30.
Economic Reports
Germany reported a fall in the number of unemployment in the country, as the unemployment figure came in at 12,000 in July, following the revised 7,000 seen in the previous month. While the unemployment rate remained unchanged at 6.7%, according to fresh reports.
Meanwhile, the retail sales in Germany advanced 1.3% in June on a monthly basis, compared to the 0.6% fall seen in May and 0.4% year-on-year, the German Statistical Office Destatis showed.
In Italy, the jobless rate fell to 12.3% in June, from 12.6% in the previous month, according to the National Institute for Statistics.
Inflation in the eurozone slowed to 0.4% on a yearly basis in July, while the jobless rate for the 18-nation bloc dropped to 11.5% in June, compared to 11.6% in May, the European statistical office said.
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