Nikkei and Chinese indexes undermined by growth concerns

N

Disappointing Chinese trade figures and the lowering of the economic growth forecast by the European Central Bank (ECB) boosted investors’ worries about a slowdown in the global economy.

The Shanghai stock exchange eventually lost 4%. Figures from the Chinese customs showed that the country’s exports fell by 20.7 percent in February. That was the biggest decrease in three years. Economists had counted on a decrease of exports by 4.8 percent. Imports also fell more than expected. The Kospi in Seoul lost 1.2 percent and the All Ordinaries in Sydney yielded 1 percent.

The leading Nikkei in Tokyo ended with a loss of 2 percent at 21.025.56 points. The Japanese main index fell about 2.7 percent this week. Japanese sea transport company Kawasaki Kisen plummeted nearly 13 percent. The company announced a loss to be expected for the financial year ending at the end of March.

The Japanese chip companies Advantest and Tokyo Electron were also sold off and dropped 5.7 percent and 3.6 percent, respectively. Banks and insurers were also under pressure due to the deteriorated economic outlook. An upward revision of Japanese economic growth in the fourth quarter had little impact on trade.


By: Oliver I. Kjeldsen

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 [email protected]

Add comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

By Leah Kunze

Recent Posts

Categories

About us

EconomicInform, EconomicInform.com is a product of EconomicInform LLC. We sincerely believe that economics is one of the most interesting and most underappreciated – in terms of getting some enjoyment out of reading the subject articles – sciences. More on that - at the link. Feel free to drop us a line.