Skip to main content
Advertising

Originally published August 28, 2014 at 5:50 AM | Page modified August 29, 2014 at 7:05 AM

  • Share:
           
  • Comments
  • Print

Asia stocks drift, Tokyo steadies after weak data

Asian stock markets drifted Friday following Japanese data showing that the region's second biggest economy is struggling to recover from a sales tax hike. European shares were marginally higher even as a report said eurozone inflation slipped.


AP Business Writer

advertising

HONG KONG —

Asian stock markets drifted Friday following Japanese data showing that the region's second biggest economy is struggling to recover from a sales tax hike. European shares were marginally higher even as a report said eurozone inflation slipped.

KEEPING SCORE: Germany's DAX inched 0.2 percent higher to 9,478.67 and France's CAC 40 edged up 0.1 percent to 4,371.46. Britain's FTSE 100 was up 0.1 percent to 6,812.29. U.S. stocks were poised to open higher, with Dow futures rising 0.2 percent to 17,109.00. Broader S&P 500 futures added 0.2 percent to 2,000.90.

ASIA'S DAY: The Nikkei 225, the benchmark for the Tokyo Stock Exchange, slipped 0.2 percent to close at 15,424.59. South Korea's Kospi dipped 0.4 percent to 2,068.54 and Hong Kong's Hang Seng was little changed at 24,742.06. In mainland China, the Shanghai Composite Index swung between gains and losses before closing 1 percent higher at 2,217.20. Australia's S&P/ASX 200 was flat at 5,625.90. Benchmarks in Taiwan, Singapore, New Zealand, the Philippines and Indonesia also slipped.

TOKYO TALES: The latest monthly data showed that the world's third-largest economy remained in the doldrums despite Prime Minister Shinzo Abe's stimulus program. In July, inflation was unchanged from the previous month, real incomes slipped 6.2 percent from a year earlier and unemployment edged higher to 3.8 percent.

EUROPEAN PRICES: European investors were digesting data that showed inflation in the 18-country eurozone fell to 0.3 percent in August, the latest sign that the continent's recovery is still unsteady. Inflation is nowhere close to the European Central Bank's goal of just under 2 percent, and fears are growing that the eurozone may fall into a crippling deflationary spiral.

GEOPOLITICS: More economic reports are due later from the U.S. but jittery investors are watching the Ukraine conflict for signs of further escalation after the country's president reported that Russian forces had entered the country. "While a barrage of economic data is due for release tonight, the (U.S.) personal spending, inflation, wage, Chicago PMI and consumer sentiment data will likely be sidelined by developments out of Ukraine," said Desmond Chua of CMC Markets.

ENERGY: Benchmark U.S. crude rose 51 cents to $95.06 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 67 cents to settle at $94.55 on Thursday.

CURRENCIES: The dollar rose to 103.90 yen from 103.68 in late trading Thursday. The euro slipped to $1.3177 from $1.3185.



Want unlimited access to seattletimes.com? Subscribe now!

Also in Business & Technology

News where, when and how you want it

Email Icon

Seattle Sketcher Book

Seattle Sketcher Book

Take home the Seattle Sketcher's latest book! Available now.

Advertising

Advertising


Advertising
The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►
The Seattle Times

To keep reading, you need a subscription upgrade.

We hope you have enjoyed your complimentary access. For unlimited seattletimes.com access, please upgrade your digital subscription.

Call customer service at 1.800.542.0820 for assistance with your upgrade or questions about your subscriber status.

The Seattle Times

To keep reading, you need a subscription.

We hope you have enjoyed your complimentary access. Subscribe now for unlimited access!

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Activate Subscriber Account ►