Monday 23 May 2016

Weak export figures dampen Japan shares

 

Japan Weak Exports2 
 
Japanese shares have been pulled down by a sharp drop in the country's exports, which fell for the seventh consecutive month.

Exports from Japan fell by 10% in April compared with the same month last year.

Imports plunged 23%, putting the trade balance at a 823bn yen ($7.5bn, £5.2bn) surplus.

Japan, whose economy has struggled for more than two decades, is hosting the G7 summit of global leaders in Sendai.

The Nikkei 225 fell 1.8% to 16,431.08 in morning trading in Tokyo.

The weak trade data is thought to be mainly due to poorer demand from China and other emerging economies.

Shares in Japan Tobacco fell by 1.4% as the world's largest insurer, Axa, announced it would stop investing in the tobacco industry.

Mainland China's Shanghai Composite rose by 0.3% to 2,834.16 while Hong Kong's Hang Seng traded flat.

In Australia, the benchmark ASX/200 dropped 0.8% at 5,308.40 points.

South Korea's Kospi index fell by 0.3% to 1,941.32.

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