Mitsubishi Motors shares have risen on media reports the auto maker will compensate customers after it admitted falsifying fuel efficiency data.
Shares in the Japanese auto maker have lost some 50% of their value since the scandal. On May 10 shares rose 1.9%.
The Nikkei 225 benchmark index closed 2.2% higher at 16,565.19 points.
Meanwhile, Takata shares shed 7.4% on reports of an additional seven million recalls of its faulty airbags.
On May 9, Takata had also said it was expecting a loss instead of a profit for the fiscal year until March due to the soaring costs of their global airbag recall.
In China, markets were reacting to fresh inflation data showing April’s price increases steady from the previous year.
China’s consumer price index (CPI) was up by 2.3% on the same month the previous year.
The Shanghai Composite index was flat at 2,832.59 points at the close of Tuesday’s session. Meanwhile Hong Kong’s Hang Seng closed higher by 0.4% at 20,242.68.
Australia’s ASX/200 finished trading 0.4% higher at 5,342.80, despite the country’s commodity giants suffering from lower iron ore prices.
Sony closed down 6% in April 25 trade after the company announced at the end of the last week that it would postpone its earnings release date to next month.
The delay was due to uncertainty over the supply chain from two earthquakes which recently hit southwest Japan. Sony was initially scheduled to release its earnings this week.
In the broader Japanese market the benchmark Nikkei 225 closed 0.8% down at 17,439.30 points.
Investors continued to selloff shares of Mitsubishi Motors, which closed down 4.8% on April 25.
Last week, Mitsubishi Motors shares plunged by more than 40% over three days, after the car maker admitted to rigging fuel efficiency tests.
The Japanese automaker is expected to announce annual results on April 27, but media reports have suggested it may skip its earnings forecast – which was originally scheduled for the same day.
Traders in Japan were also cautious ahead of an important Bank of Japan (BoJ) meeting where the lender might decide on more monetary easing.
Japan’s central bank will on April 28 decide on its interest rate which currently is negative as an attempt to spur growth.
In Korea, the Kospi index finished the day flat at 2,014.55 points.
Hong Kong’s Hang Seng closed lower by 0.8% to 21,304.44, while the mainland’s Shanghai Composite also closed lower by 0.42% to 2,946.67.
Markets in Australia and New Zealand were closed on April 25 for the Anzac Day holiday.
There is a long list of companies reporting quarterly earnings this week.
In the US they include tech giants Apple and Facebook, online retailer Amazon, and Dunkin Donuts.
From the auto sector, Ford Motor is due to report its quarterly results.
Over in Asia, South Korea’s Hyundai as well as Japan’s Honda Motor and Mazda Motor update investors on their earnings.
Japan’s stock markets traded higher on April 12, as the yen continues to weaken.
At the end of the day, Nikkei 225 index was up 177.66 points, or 1.1%, at 15,928.79.
The Japanese yen dipped to 108.35 against the US dollar in Asian trade from 107.94 during US trade overnight.
Toyota shares closed higher by nearly 4% after several days of losses, with rival Nissan seeing a 3.2% jump in its shares.
A cheaper yen makes Japanese goods cheaper and more competitive, and is generally seen as a boost for export-related companies.
Shares of brokerage firm Nomura surged 7.4% on reports it plans to cut up to 1,000 jobs in US and Europe. Investors had been worried about Nomura’s non-performing businesses overseas.
In South Korea, the benchmark Kospi closed up 0.6% at 1,981.32.
In Australia, the S&P ASX 200 index also rose, ending the day up 0.9% at 4,975.60.
Hong Kong markets were also higher. By midday, the benchmark Hang Seng was 0.2% higher at 20,482.30.
However, Chinese markets were lower for most of the session and by midday the Shanghai composite index was down 0.7% at 3,014.20. Investors were selling off shares across the board, including telecommunications and property shares.
US stocks closed lower on April 11 after a late sell-off erased gains made earlier in the day. Investors were preparing themselves for a slew of company results this week.
Later this week, investors will be looking out for earnings from America’s biggest banks.
Asian stock markets largely recovered in late trade, with trading volatile in the wake of the ECB’s latest stimulus measures.
On March 10, markets had initially cheered the European Central Bank’s move to cut rates and expand its quantitative easing plan.
However, hints later that the ECB might not cut rates further saw European and US markets go into reverse.
In Japan, the Nikkei 225 index fell 1% at first, but then recovered to end the day up 0.5% at 16,938.87.
In China, investors were looking ahead to some fresh economic data expected out of Beijing on March 12.
Analysts said retail sales may show some improvement over the combined January and February period, but that they were expecting industrial production and fixed-asset investment numbers to support the outlook for a continued overall economic slowdown in China.
March 12 numbers will combine January and February activity on the mainland in order to avoid any irregularities that could appear due to the Lunar New Year holiday.
Hong Kong’s Hang Seng index closed up 1.1% at 20,199.60, while the Shanghai Composite rose 0.2% to 2,810.31.
In Australia, the benchmark S&P/ASX 200 fell at first, but then recovered to close up 0.3% at 5,166.39.
South Korea’s Kospi index ended the day 0.1% higher at 1,971.41.
Japan’s stock market soared by more than 7% on February 15 as the dollar strengthened against the yen.
Last week, the US dollar fell to a 15-month low against the yen and the Nikkei 225 index lost more than 11%.
On February 15, however, the dollar rose to 113.95 yen from 113.25 yen on February 12 in New York.
The bounce for the Tokyo market came despite official figures showing Japan’s economy had contracted by 0.4% in the three months to December.
The worse than expected quarter-on-quarter figures did not stop the Nikkei 225 closing 7.2% higher at 16,022.5 points – its biggest daily percentage gain since late 2008.
Last week, Japan’s markets traded sharply lower as a stronger yen against the dollar hurt the country’s big exporters.
On February 12, the Nikkei index closed down 4.8% to 14,952.6 points – below the 15,000 points level and its lowest close since October 2014.
However, a retreat of the yen on February 15 sent shares in the country’s big exporters sharply higher.
Toyota finished the trading day in Tokyo up more than 9.5%, Honda gained 8% and Nissan rose 6.7%. Sharp and Sony gained just over 7% and 8% respectively.
Analysts said the yen could continue to weaken this year, which would be good for exporters.
Elsewhere, markets in China were divided despite worse-than-expected trade numbers.
On the mainland, where markets were open after a week off for Lunar New Year celebrations, the Shanghai Composite closed down 0.6% at 2,746.2.
In Hong Kong, however, the Hang Seng jumped 3% to 18,874.5 points after finishing lower on February 11 and 12.
Trade numbers released on February 15 showed China’s exports in yuan terms fell 6.6% in January from a year earlier, while imports dropped 14.4%.
In US dollar terms, exports fell 11.2% from a year earlier and imports fell 18.8%, marking the seventh and 15th month of straight declines respectively.
The numbers mean the country was left with a record trade surplus of $63.3 billion for the month, compared to $60.9 billion in December.
Analysts said the January trade data was a reflection of slower external demand – particularly from trading partners like South Korea.
In Australia, the benchmark S&P/ASX 200 finished up 1.6% to 4,843.5 points, while South Korea’s benchmark Kospi index closed up 1.5% to 1,862.2 points.
Japan’s shares plunged on February 12, following global markets, after a stronger yen against the dollar hurt the country’s big exporters.
Nikkei 225 fell as much as 5.4% in early trade. By the close, the benchmark index had recovered slightly, but was still down 4.85% to 14,952.61 points.
That was below the psychologically important level of 15,000 points and its lowest close since October 2014.
Today’s losses end what has been a turbulent week of trade for Japan.
The index has shed more than 11% over the trading week, which was short because of a public holiday on February 11.
Japan’s big exporters were hurt on February 12 as the dollar fell to a 15-month low against the yen. A stronger yen against the dollar hurts Japan’s exporters, as it makes their products more expensive to purchase overseas.
Auto maker Toyota finished Japan’s trading day down 7%, while Honda lost 5.5% and Nissan shed 5.8%.
Overnight, benchmark indexes in London, the US and Europe posted sharp declines amid continued worries about oil prices and over the strength of the global economy – particularly the outlook for the world’s largest economy, the US.
US Federal Reserve chair Janet Yellen’s gloomy economic assessment on February 10 was continuing to hurt investor sentiment around the world, analysts said.
Janet Yellen said financial conditions in the US had become “less supportive” of growth, dousing hopes of a second rise in interest rates in the near future.
Asian stock markets were trading largely lower on February 2 following a lackluster lead from the US overnight and as oil prices fell again.
Japan’s Nikkei 225 closed down 0.64% at 17,750.68 points.
Tokyo’s benchmark index closed up nearly 2% on February 1, its highest close since early January, after a surprise move by the Bank of Japan cut rates to -0.1%.
In Australia, energy-related stocks weighed on the market, hurt by oil price worries.
Australia’s benchmark ASX 200 shed 1%, dragged down by shares in energy giants including BHP, Woodside and Santos.
Investors also reacted to a move by ratings agency S&P to lower its rating for BHP to “A” from “A+” due to falls in commodity prices, among other issues.
Shares in Woodside closed down 3.2%, Santos lost 4.26%, and BHP ended the trading day down 2.16%.
As widely expected, the Reserve Bank of Australia kept its rates on hold on February 2 at a record low of 2%, where they have been since May 2015.
Meanwhile, Hong Kong’s Hang Seng index was down 0.81% at 19,441.95 in afternoon trade, while the Shanghai Composite was bucking the regional trend to be up 1.93% to 2,741.39.
South Korea’s Kospi index closed down 1% to 1,906.60, in line with the rest of the region.
Japan’s stock market traded sharply higher on February 1 as investors continued to cheer January 29 surprise move by the central bank to cut its rates.
Tokyo’s Nikkei 225 closed up 1.98% to 17,865.23 – its highest close since early January.
The benchmark closed up almost 3% on January 29 after the BoJ cut its rates to -0.1%.
The move is designed to spur inflation, investment and spending. Analysts said it was a turning point for the bank.
Elsewhere, manufacturing activity in China, the world’s second biggest economy, shrank more than expected in January from a month earlier, which dented confidence among investors.
Hong Kong’s Hang Seng index closed 0.5% lower at 19,595 in afternoon trade, while the Shanghai Composite was down 1.8% at 2,688.
China’s official Purchasing Managers’ Index (PMI) came in at 49.4 for the month compared to December’s reading of 49.7. The data marks the sixth month of contraction in the sector.
Expectations were for a reading of 49.6 for the month. A reading of above 50 indicates activity has grown, while a reading of below 50 indicates activity has contracted.
In South Korea, the Kospi index closed up 0.67% to 1,924.82, reversing earlier losses.
Disappointing trade numbers released on February 1 showed exports contracted 18.5% in January from a year earlier. It marks the 13th month in a row the nation’s exports have shrunk and is the worst result for exports since mid 2009.
Imports also contracted for the period by 20.1%.
In Australia, the ASX 200 finished the day up 0.76% at 5,043.60 following gains in the US.
Japan stock market has traded higher, despite the latest trade figures showing exports falling for a third straight month.
Its exports fell by 8% in December 2015 from a year earlier, suggesting that China’s slowdown continues to affect demand.
The Nikkei 225 index rose 0.9%, closing at 17,110.91, building on January 22 rally when it climbed almost 6%.
Global stock markets surged late last week on hints that central banks in Europe and Japan would continue monetary easing.
On January 21, sentiment got a boost as European Central Bank (ECB) President Mario Draghi suggested the bank would review its policies in March and could launch further stimulus.
Photo AsiaNews
One day later, media reports suggested that the Bank of Japan (BOJ) would also ease further.
The BOJ is set for its first meeting of 2016 later this week, where it is expected to make a policy announcement as weak growth and a drop in oil prices weigh on its attempts to lift inflation.
Led by energy shares, Chinese markets also continued last week’s strong finish, trading higher both in Hong Kong and on the mainland markets.
The Hang Seng index in Hong Kong rose by 1.5% to 19,373.09, while the Shanghai Composite edged 0.4% higher to 2,926.04.
In Australia, the benchmark S&P ASX 200 closed 1.8% up at 5,006.60 points.
The commodity-heavy market was helped by a rebound in both oil and iron ore prices.
In South Korea, the Kospi index followed the region’s trend, increasing 0.7% to close the day at 1,893.43 points.
Asian stock markets have continued recovery, picking up on a rebound in oil prices and a strong lead from the US and Europe.
The recovery comes after a sharp sell-off earlier in the week.
Meanwhile, hints from European Central Bank (ECB) on January 21 that it might consider more monetary easing helped lift investors’ confidence.
In Japan, the Nikkei 225 index jumped 5.9% to close at 16,958.53, after hitting at 15-month low the previous day.
Chinese markets also managed to recover some of the past days’ heavy losses.
The mainland benchmark Shanghai Composite gained 0.8% to 2,901.32 points, while Hong Kong’s Hang Seng rose 2.2% to 18,950.19 points.
Markets were encouraged by a recovery in oil prices, which had hit 12-year lows earlier in the week.
Brent crude was up 98 cents at $30.23 a barrel, while US crude was 85 cents higher at $30.38 a barrel.
In Australia, the S&P ASX 200 closed by 1.1% higher, at 4,916.00 points.
Among the market’s standout performers were several of the big oil and commodity companies, buoyed by a rise in the oil price.
BHP Billiton and Rio Tinto were 7.5% and 3.4% up respectively, while Santos climbed 11%.
Stocks of winemaker Treasury Wine Estates also stood out, jumping as much as 17.5% to a record high after the company provided strong full-year profits guidance in a market update.
In South Korea, the benchmark Kospi index followed the region’s trend, closing the day 2.1% higher at 1,879.40 points.
On January 21, shares in Europe and the US closed higher, helped by comments from ECB president Mario Draghi.
After the ECB had kept eurozone rates on hold, Mario Draghi hinted that the bank might take more action to try to stimulate the eurozone economy later this year.
He said the bank would “review and possibly reconsider” monetary policy at its next meeting in March.
Mario Draghi also said eurozone rates would “stay at present or lower levels for an extended period” and there would be “no limits” to action to reflate the eurozone.
Japan stock market hit a one-year low in January 18 trade following big falls in the US and as oil prices dropped below $28 a barrel for the first time since 2003.
The benchmark Nikkei 225 closed down 1.1% at 16,955.57 – its lowest close in a year.
In Australia, investors also reacted to falling oil prices.
The benchmark S&P/ASX 200 closed down 0.7% at 4,858.70, with energy-related stocks and banking shares weighing on the index.
BHP Billiton shares fell 3%, Woodside lost 2.6%, and Santos shares fell 8.4%.
Photo Reuters
Australia’s big lenders also saw falls on January 18, with ANZ’s shares down 2% and Westpac’s down 1%.
In South Korea, the benchmark Kospi index closed flat at 1,878.45 after spending much of the day in negative territory.
In China, analysts said they expected markets to be hurt further this week by falling oil prices, together with continued worries about the country’s economic growth. China’s latest quarterly gross domestic product numbers are out on January 19.
Housing data released on January 18 showed house prices rose 1.6% in December from a year earlier. China’s housing market accounts for about 15% of the economy and the latest numbers mark the third consecutive month of year-on-year gains.
Hong Kong’s Hang Seng index closed down 1.5% at 19,237.45, while the Shanghai Composite finished the day 0.44% higher at 2,913.84.
Japanese shares have tumbled after a heavy sell-off on Wall Street added to nervousness among investors.
Nikkei 225 index fell more than 4% before closing down 2.7% at 17,240.95. Earlier, the index had fallen below the key resistance level of 17,000 for the first time since September.
US shares had fallen over 2% as a oil stockpiles report and a Federal Reserve survey suggested more sluggish growth.
Weak economic data from Japan also dented investors’ confidence.
Government data showed that core machinery orders fell 14.4% in November from the previous month.
The orders were down for the first time in three months in the world’s third largest economy.
Brent crude prices, meanwhile, fell 0.9% to $30.05 a barrel after earlier hitting a fresh 12-year low of $29.73.
In Australia, S&P/ASX 200 share index ended 1.6% lower at 4,909.40, despite the release of better than expected employment data.
The unemployment rate in the country was 5.8% in December, with fewer jobs lost than economists were expecting.
Australia lost 1,000 new jobs, as against expectations of 10,000.
In South Korea, the benchmark Kospi index closed down 0.9% at 1,900.01 after its central bank kept interest rates unchanged for the seventh consecutive month.
Hong Kong’s Hang Seng index was 0.5% lower at 19,830.64 in afternoon trade.
China’s Shanghai Composite index was the only bright spot in the region – rising 0.6% to 2,967.35 – as it reversed earlier losses.
Regulators had announced late on January 13 that they had stepped up monitoring share-selling by listed companies’ major shareholders.
The securities commission also said that its transition to a US-style registration system for listings would be a gradual process and not lead to a surge in initial public offerings (IPOs).
The announcement was the latest in a series of measures to support the market after heavy losses since last week.
Elsewhere in the region, Indonesia’s Jakarta composite index was down 1.7% at 4,459.32 after multiple bomb blasts rocked the capital city.
Japanese shares rose to a two-month high on Friday, October 30, after Bank of Japan decided to keep its monetary easing policy steady.
The benchmark Nikkei 225 initially fell on the decision by more than 0.4%.
The index recovered to close up 0.78% at 19,083.1 points.
BoJ’s 2% inflation target was also pushed back by about six months.
While forecasts for economic growth for the year to March 2016 were also lowered to 1.2% from 1.7%.
Japan’s central bank governor Haruhiko Kuroda told reporters on October 30 the inflation target timing had been delayed “largely due to the effect of energy price falls”.
The BoJ’s current stimulus package is designed to give a boost to the world’s third-largest economy.
Private consumption makes up some 60% of Japan’s economic activity, but the country has struggled with deflation, or falling prices, for more than 15 years. Lower prices for goods in Japan have seen consumers hold on to their money in the hope of even lower prices later on.
The stimulus package is designed to encourage lending, which in turn should see consumers spending more.
Earlier on Friday, a string of domestic data showed Japan’s core consumer inflation number had fallen 0.1% in September from a year ago, household spending had fallen 0.4% year-on-year while unemployment had remained steady at 3.4% compared to August.
The data fuelled some speculation the BoJ would make a move. But eight out of nine board members voted in favor of the decision.
Asian markets traded higher on September 30, recovering from the previous session’s steep losses, despite disappointing economic news from Japan.
The Japanese index, Nikkei 225, led the region’s gains, closing up 2.7% at 17,388.15, after losing more than 4% on September 29.
Investors ignored data that showed Japanese factory output shrank by 0.5% in August from July, and retail sales also fell short of expectations.
Investors are awaiting the Bank of Japan’s business confidence survey.
Bank of Japan’s quarterly Tankan survey due on October 1 is expected to show that business sentiment worsened in the three months to September.
Shares in Japan Tobacco fell 6.7% on concerns that it has paid too much to buy the rights for Reynolds American’s Natural American Spirit tobacco brand outside the US for 600 billion yen ($5 billion).
Chinese shares headed higher as investors took in news of a new tax cut on some car sales.
A government announcement on September 29 said the sales tax on cars with smaller engines would be halved. The cut will be effective from October 1, 2015, until the end of 2016.
China is the world’s biggest market for cars and the new tax cut will apply to about 70% of the market.
Hong Kong’s Hang Seng index closed up 1.14% at 20,851.32, while the Shanghai Composite closed up 0.48% at 3,052.78.
Australia’s benchmark S&P/ASX 200 index closed up 2.1% at 5,021.60 after hitting a two-year low on Tuesday.
Meanwhile, South Korea’s Kopsi index ended up 1% to 1,962.91 as it reopened following public holidays.
Japan’s stock market fell on September 18 as the yen strengthened against the dollar in the wake of the Federal Reserve’s decision not to raise interest rates.
The Nikkei 225 index closed down 2% at 18,070.21. The dollar fell against the yen following the Fed’s decision to keep its interest rates unchanged, which hit shares in Japanese exporters.
Shares in Toyota and Honda dropped 1.4%, while Panasonic was 2.1% lower.
A stronger yen against the dollar affects exporters, as it makes their goods more expensive to sell overseas.
The Fed’s decision to hold interest rates also renewed concerns about the strength of the global economy.
Photo WSJ
The US central bank said worries over the global economy, particularly China, had influenced its decision not to raise rates.
US shares saw choppy trade after the decision, with both the Dow Jones and S&P 500 closing lower.
Chinese shares were mixed after government data showed that property prices had shown some signs of recovery.
New home prices rose for a fourth consecutive month in August, up 0.3% from the previous month, but were down 2.3% from a year ago.
The property sector accounts for 15% of China’s economic growth, so even minimal gains have a positive impact on the world’s second largest economy.
The Shanghai Composite index ended 0.4% higher at 3,097.92, while Hong Kong’s Hang Seng index closed up 0.3% at 21,920.83.
In Australia, the S&P/ASX 200 index erased earlier losses to end up 0.6% at 5,178.50.
South Korea’s benchmark Kospi index finished 1% higher at 1,995.95.
Japan’s stock market headed higher on September 17 despite trade data for August coming in below market expectations.
Japanese exports rose 3.1% from a year ago, falling short of the 4% predicted, while imports fell a more-than-expected 3.1% in the same period.
Investors also ignored a credit rating downgrade for Japan by S&P rating agency, because of a weakening outlook for the economy.
Japan’s benchmark Nikkei 225 index closed up 1.4% to 18,432.27.
Photo Getty Images
The index has risen for a third consecutive day.
Australian shares headed higher, following the global lead, after US shares were positive ahead of the Federal Reserve’s decision on whether to raise interest rates for the first time in almost a decade.
In Sydney, the S&P/ASX 200 index closed up 0.9% to 5,146.80 points.
Chinese shares headed higher, following on from yesterday’s trend, when mainland shares rallied to close up nearly 5%.
The Shanghai Composite was up 1.6% to 3,202.42, while Hong Kong’s Hang Seng index was higher by 0.6% at 22,089.24 in afternoon trade.
South Korea’s benchmark Kospi index finished trading flat at 1,976.49 as investors awaited the Fed’s decision.
Asian stock markets were mostly lower on September 10 as economic data from Japan and China made investors cautious.
After surging almost 8% on September 9, Japan’s Nikkei 225 index closed down 2.5% at 18,299.62, among Asia’s big losers.
Worries about a slowdown China and the impact of a US interest rate hike also dented investors’ confidence.
Analysts said losses were to be expected considering Wednesday’s significant gains – particularly in Japan.
Core machinery orders in Japan, which are a key indicator of capital expenditure, fell by 3.6% in July compared with June.
The renewed decline suggested that business investment may fall yet again this quarter, economists said.
In Australia, the S&P/ASX 200 closed down 2.4% at 5,098.40, following Wall Street lower and after two sessions of gains.
Photo AsiaNews
The Australian dollar fell together with the New Zealand dollar on Thursday after New Zealand’s central bank cut interest rates to 2.75% and said it may introduce further easing measures to boost its flagging economy.
In China, the benchmark Shanghai Composite ended down 1.4% to 3,197.89, while Hong Kong’s Hang Seng lost 2.6% to 21,562.5 points.
Official figures released on September 10 showed China’s consumer price index (CPI) unexpectedly rose to 2% in August from a year ago marking a one-year high.
The rise was due to higher food prices. Pork prices, which weigh heavily on consumer prices in China, rose from 16.7% last year to 19.6% in August.
China’s producer price index (PPI) fell 5.9% – marking its 42nd consecutive month of declines – and the biggest drop since 2009.
The one bright spot in Asia was South Korea’s Kospi which closed up 0.7% to 1,947.30 points.
Japan’s stock market closes up almost 8% on September 9 in its biggest one-day jump since late 2008.
Nikkei 225 index closed up 7.71% at 18,770.51 points.
On September 8, the benchmark index saw all the gains it had made this year wiped out.
Remarks by newly re-elected PM Shinzo Abe suggesting company tax cuts were on the way helped the mood.
Also positive were September 8 rebound for US shares and an improving Chinese share market.
Investor sentiment was up across the rest of Asia.
Tuesday’s weak economic data from China has also raised hopes of more stimulus for that economy and its markets.
Hong Kong’s benchmark Hang Seng index finished up 4.1% at 22,131.31 – marking its biggest one-day percentage gain in almost four years.
China’s government said on September 9 that it would strengthen fiscal policy, boost infrastructure spending and speed up reform of its tax system to support the economy.
On the mainland, the Shanghai Composite closed up 2.3% at 3,243.09 – moving into positive territory for the year.
In Australia, the S&P/ASX 200 closed up 2.07% at 5,221.10, taking its lead from US markets.
Analysts said resource and commodity shares, together with some of the big bank stocks, had buoyed the Australian index.
Numbers out on September 9 showed consumer confidence slid in September which led to revived hopes of another rate cut by the Reserve Bank of Australia.
South Korea’s Kospi benchmark index also closed up 2.96% at 1,934.20 points. Official data released on September 9 showed the country’s latest unemployment figures for August sitting at their lowest since January this year.
Japan’s shares lost this year’s gains after Nikkei index fell below 17,450.77 points on September 8.
Japan’s benchmark index finished the day down 2.43% at 17,427.08 points.
Analysts said investors were concerned about China’s economy following latest trade numbers released on September 8.
Investors also reacted to Japan’s revised growth numbers released earlier which analysts said had not eased concerns about the state of the country’s economy.
Japan’s economy contracted 0.3% during the quarter, compared with original calculations of a 0.4% contraction.
Photo Wikipedia
The revision beat market expectations, which were for a contraction of 0.5%, but did little to calm investors.
The world’s third largest economy also revealed a revised fall in private consumption on September 8 to 0.7% from a previous estimate of 0.8%.
Japan relies on domestic consumption for about 60% of its economy. However, it has been adjusting to the impact of a sales tax rise which has dampened spending.
Chinese shares rallied to close higher after a surge in late afternoon buying by bargain hunters helped reverse earlier losses.
The Shanghai Composite finished up 2.9% at 3,170.45, while Hong Kong’s Hang Seng index was up 3.3% at 21,259.04.
Investors ignored trade data that showed China’s imports in August fell 14.3% in yuan-denominated terms from a year ago, while exports fell by 6.1%.
The steep fall in the value of imports, which was greater than expected, reflected lower commodity prices globally, particularly crude oil.
In Australia the S&P/ASX 200 closed up 1.69% at 5,115.2 points.
Energy stocks were boosted as investors reacted to news that Australian energy giant Woodside Petroleum had made an estimated $11.65 billion Australian dollars ($8.1 billion) bid for Oil Search as it looks towards Papua New Guinea’s (PNG) market.
Australian-listed shares in Oil Search, which is an oil and gas exploration firm with most of its assets in PNG, rose as much as 17% on the news, though Woodside’s slid more than 3%.
South Korea’s Kospi benchmark index closed down 0.24% at 1,878.68 points.
Japan’s stock market fell as much as 3% on September 4, touching a seven-month low, as the yen strengthened against the dollar ahead of much-anticipated job numbers from the US due later.
Japan’s Nikkei share index eventually closed down 2.15% at 17,792.16.
The dollar was buying 119.10 yen in afternoon trade, its weakest point since late last month.
A stronger yen is not good for Japanese exporters as it makes their goods more expensive to buy overseas.
Photo Reuters
Among big exporters, shares in Toyota dropped 2.5% while Panasonic fell 4%.
Analysts said the yen has strengthened because investors were looking to put their money into safer assets.
Other Asian shares headed lower for much of the day, despite stocks on September 3 getting a boost from the European Central Bank’s (ECB) hints about extending its stimulus program.
The ECB cut its growth and inflation forecasts on September 3, paving the way for an expansion to its asset-buying plan.
South Korea’s Kospi closed down 1.5% at 1,887.61, while in Australia the S&P/ASX 200 closed up 0.25% at 5,040.60.
Hong Kong’s benchmark Hang Seng index closed down 0.45% at 20,840.61, while China’s mainland markets were closed for a holiday to commemorate the end of World War Two.
Japan stock market closed higher for the first time in four days, spurred by a rally on Wall Street.
US shares snapped a two-day losing streak overnight, rebounding from Tuesday’s steep losses as the S&P 500 and Dow Jones rose nearly 2%.
An upward revision in US productivity data ahead of the jobs report on September 4 boosted sentiment among investors rattled by slowing growth in China.
Photo AFP/Getty Images
Japan’s Nikkei 225 index closed up 0.5% to 18,182.39 – leading Asian gains.
Chinese markets are closed on September 3 and 4 for a holiday to commemorate the end of World War II.
In Australia, the S&P/ASX 200 index ended down 1.3% at 5,035.70. Shares in department store operator Myer Holdings dived 24% after it announced plans to raise 221 million Australian dollars ($154 million) through a rights issue.
In South Korea, shares closed flat after revised second quarter growth figures came out in line with earlier estimates released in July.
The country’s economy grew a seasonally-adjusted 0.3% from April to June from the previous three-month period, while it expanded 2.2% from a year earlier.
South Korea’s benchmark Kospi index finished at 1,915.53.
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