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12 Aug 2013
Nikkei shows volatile day; Shanghai supports Aussie
FXstreet.com (Chicago) – Mixed corporate earnings in Japan and underperforming GDP data flattened losses.
Earlier in Japan, the Cabinet Office published a 2.6% GDP growth for the second quarter of the year. Expectations were at 3.6% and previous results had reached 3.8%. Stocks were dragged down to be eventually push up by tire makers results as Toyota Motor Corporation rose 0.7%, along with Bridgestone Corporation soaring 4.5%.
The Nikkei 225 is currently flat, at 0% change so far, breaking even despite economic expansion underperforming expectations for the second quarter of the year and implying further stimulus. The Shanghai Composite is up 1.02%, highest in two months driven by developers and energy speculations on ban release. Similarly, the Hang Send is up 1.49%.
Earlier in Japan, the Cabinet Office published a 2.6% GDP growth for the second quarter of the year. Expectations were at 3.6% and previous results had reached 3.8%. Stocks were dragged down to be eventually push up by tire makers results as Toyota Motor Corporation rose 0.7%, along with Bridgestone Corporation soaring 4.5%.
The Nikkei 225 is currently flat, at 0% change so far, breaking even despite economic expansion underperforming expectations for the second quarter of the year and implying further stimulus. The Shanghai Composite is up 1.02%, highest in two months driven by developers and energy speculations on ban release. Similarly, the Hang Send is up 1.49%.