Asian stocks slump after disappointing Japan data

Friday, 29. November 2019 04:11

Equities in Asia traded in the negative territory on the last trading day of the week as economic figures from Japan dampened investor sentiment.

Monthly figures for October revealed a sharp decline of 4.2% in industrial production in Asia's second largest economy. On a yearly basis, the indicator dropped 7.1%. The unemployment rate offered no major surprises, with the figure landing at 2.4%, in line with analyst expectations.

Meanwhile, inflation in the Ku-area of Tokyo increased by 0.8% in November on a yearly basis, surpassing the consensus forecast of 0.4%.

The Nikkei 225 declined 0.13% at 4:01 am CET. The Kospi Composite plunged 1.14% a minute later.

In China, the Shanghai Composite also struggled, losing 0.43% at 4:02 am CET, while the Shenzhen Composite retreated 0.73% at 4:03 am CET. The Hang Seng plunged 1.86% at 4:04 am CET.

Australia's S&P/ASX 200 climbed 0.20% at 4:05 am CET.

The dollar traded flat against the Japanese currency, buying 109,4710 at 4:06 am CET.

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