the republic logo

Asian stock markets mostly higher after Japan data shows improvement, but China shares fade

bug
Share/Save/Bookmark

HONG KONG — Asian stock markets were mostly higher Friday after economic data suggested Japan is pulling out of recession while Chinese shares fell ahead of a manufacturing report.

KEEPING SCORE: The benchmark Nikkei 225 in Tokyo added 0.6 percent to 17,717.32 and South Korea's Kospi was up 0.1 percent at 1,953.17. Australia's S&P/ASX 200 gained 0.8 percent to 5,613.60. Southeast Asia markets were also higher. But Hong Kong's Hang Seng shed 0.1 percent to 24,570.01 and China's Shanghai Composite dropped 1 percent to 3,230.66.

JAPAN DATA: Japan's industrial output edged higher in December, suggesting the world's third-largest economy may be turning the corner on a recession brought on by a hefty sales tax hike. Manufacturing output increased 0.3 percent in December from a year earlier and by 1 percent from the month before. Japan's jobless rate dipped to 3.4 percent from 3.5 percent the month before. But stagnant wages meant household spending dropped 3.4 percent from a year earlier.

PHOTO: Trader Gregory Rowe works on the floor of the New York Stock Exchange Wednesday, Jan. 28, 2015. U.S. stocks moved higher in early trading Wednesday after very strong earnings from Apple and Boeing. (AP Photo/Richard Drew)
Trader Gregory Rowe works on the floor of the New York Stock Exchange Wednesday, Jan. 28, 2015. U.S. stocks moved higher in early trading Wednesday after very strong earnings from Apple and Boeing. (AP Photo/Richard Drew)

CHINA FACTORIES: Mainland Chinese investor sentiment weakened ahead of the release of monthly factory data. The country's official purchasing managers' index is due out Sunday, followed by a similar survey by HSBC on Monday but the figures are not expected to show any signs of a big rebound for the No. 2 economy, which is in the midst of a prolonged slowdown.

WALL STREET: U.S. stocks rebounded from a two day losing streak as better-than-expected quarterly earnings reports cheered investors. The Dow Jones industrial average rose 1.3 percent to close at 17,416.85. The S&P 500 index gained 1 percent to 2,021.25 and the Nasdaq composite added 1 percent to 4,683.41

ENERGY: Benchmark U.S. crude rose edged up 1 cent to $44.54 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 8 cents to close at $44.53 on Thursday. Brent crude, a benchmark for oil sold internationally, lost 12 cents to $49.01 in London.

CURRENCIES: The dollar edged lower to 118.00 yen from 118.20 the previous day. The euro slipped to $1.1323 from $1.1327.

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


Photo Gallery:
PHOTO: A screen at the Nasdaq MarketSite shows a price for Alibaba stock, in New York, Thursday, Jan. 29, 2015. Chinese e-commerce powerhouse Alibaba's Group reported adjusted fourth-quarter earnings that beat expectations as its user base continued to grow and shoppers bought more on mobile phones. (AP Photo/Richard Drew)
Click to view (13 Photos)

All content copyright ©2015 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.