Trade fair today: live updates

8 hours ago

Tech stocks hold back Nikkei as GDP figures pave the way for BOJ to raise rates

Japan’s Nikkei 225 led losses in Asia on Monday, falling more than 2% and dragged down by technology stocks.

According to Factset, semiconductor equipment maker Advantest Corp was the biggest loser on the index, down 6.32%. This was followed by counterpart Screen Holdings, which fell 5.75%.

Other names on the biggest losers list include Softbank Group, which fell 5.19%, and Kawasaki Heavy Industries, which fell 4.16%.

9 hours ago

Japan avoids a technical recession as revised fourth-quarter data shows the economy grew 0.4%

Japan posted annual GDP growth of 0.4% in the fourth quarter, averting a technical recession.

This comes after previous estimates showed Japan’s economy shrank by 0.4% year-on-year in the fourth quarter, following a revised 3.3% slump in the third quarter, meeting the definition of a technical recession.

A positive GDP reading could pave the way for the Bank of Japan to raise interest rates sooner or later.

Read the full story here.

– Lim Hui Jie

10 hours ago

China returns to inflation in February with CPI up 0.7%

China’s consumer price index rose 0.7% year on year in February, marking the first time inflation in the country rose in four months.

The figure marks a sharp reversal from January’s 0.8% decline, which was also China’s worst rate of deflation since September 2009. The figure was also better than the 0.3% increase that economists polled by Reuters had expected.

On a monthly basis, the CPI rose 1%, higher than the 0.7% expected in the Reuters poll and compared with the 0.3% increase in January.

In addition, the country’s producer price index fell 2.7% year-on-year, up from January’s 2.5% decline.

– Lim Hui Jie

12 hours ago

The consumer price index will be published this week

February’s consumer price index, to be released Tuesday, is expected to show prices rising 0.4% month-over-month and 3.1% year-over-year, according to economists surveyed by Dow Jones. That compares with increases of 0.3% and 3.1% respectively in the earlier reading.

The core CPI, which excludes volatile food and energy prices, is expected to show a rise of 0.3% on the month, and a rise of 3.7% on the same period last year, it shows from consensus estimates. Previously, it had increased by 0.4% and 3.9% on a monthly and annual basis respectively.

– Sarah Min

12 hours ago

Stock futures open little changed

U.S. stock futures were little changed Sunday evening.

Dow Jones Industrial Average futures rose 19 points, or 0.05%. S&P 500 futures and Nasdaq 100 futures fell 0.04% and 0.11%, respectively.

– Sarah Min

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