InsideJapan News Network
Wednesday,
11th
August
2010
In Business In Japan,
In Business In Japan,
Fall in Asian stocks on new data
Shares on a number of Japanese stock exchanges have fallen after new data suggested that economic recovery around the world could be slowing down.
The Japanese stock exchange the Topix saw its biggest fall in two months and the Nikkei Stock Average also saw large drops. Some of the worst hit Japanese firms included industrial robot manufacturer Fanuc.
Share indexes in Australia, Taiwan, New Zealand and Singapore took hits, as did the South Korean Kospi which fell by 0.8 per cent.
The falls followed weak data from Wall Street as well as worse-than-expected new manufacturing data from the Japanese sector.
Speaking to Bloomberg, fund manager in Tokyo for Shinkin Asset Management Tomomi Yamashita said: "A slowdown in the global economy is now obvious and that is cooling investor sentiment. There are no attractive positions to take right now in markets. We?re waiting for better economic data."
Japan's recent economic downturn and recession were the worst seen in the country since the end of the second world war and as well as this, the nation is struggling with high levels of deflation.
Written by Mark Smith
Related news stories:
Japanese stocks fall due to strong yen (17th June 2010)
Stocks fall on Hatoyama resignation (2nd June 2010)
Japanese stocks fall for first time in days (4th March 2010)
Japan reaches Asian Cup final (27th January 2011)
The Japanese stock exchange the Topix saw its biggest fall in two months and the Nikkei Stock Average also saw large drops. Some of the worst hit Japanese firms included industrial robot manufacturer Fanuc.
Share indexes in Australia, Taiwan, New Zealand and Singapore took hits, as did the South Korean Kospi which fell by 0.8 per cent.
The falls followed weak data from Wall Street as well as worse-than-expected new manufacturing data from the Japanese sector.
Speaking to Bloomberg, fund manager in Tokyo for Shinkin Asset Management Tomomi Yamashita said: "A slowdown in the global economy is now obvious and that is cooling investor sentiment. There are no attractive positions to take right now in markets. We?re waiting for better economic data."
Japan's recent economic downturn and recession were the worst seen in the country since the end of the second world war and as well as this, the nation is struggling with high levels of deflation.
Written by Mark Smith
Related news stories:
Japanese stocks fall due to strong yen (17th June 2010)
Stocks fall on Hatoyama resignation (2nd June 2010)
Japanese stocks fall for first time in days (4th March 2010)
Japan reaches Asian Cup final (27th January 2011)
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