The stock exchange in Japan closed almost flat on Thursday. A disappointing industrial figure from China curbed the stock market. A substantial price gain from heavyweight SoftBank also offered some support to the trade. The risk of a no-deal brexit also decreased after the British parliament voted against a departure from the European Union without a deal.
The Nikkei index in Tokyo eventually ended a fraction lower at 21,287.02 points. The Japanese telecom group SoftBank climbed 1.3 percent after reports that the conglomerate is considering an investment in the division of self-driving cars of taxi service Uber Technologies. Fast Retailing, the owner of the Uniqlo clothing chain and also a heavyweight in the Nikkei, rose 0.4 percent. The maker of electronic equipment Samco fell 10.5 percent after a reduction in profit expectations.
The stock market in Shanghai lost 0.9 percent in the meantime and the Hang Seng index in Hong Kong rose a fraction. On a macroeconomic level, it was found that the growth of Chinese industrial production in the first two months of the year dropped to its lowest level in seventeen years. The Kospi in Seoul rose 0.3 percent and the All Ordinaries in Sydney also closed 0.3 percent in the plus.
Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is oliver.kjeldsen@economicinform.com
