Seeking Alpha

Japanese shares slump

  • The Nikkei leads Asian stocks lower following more weak Chinese economic data yesterday and amid increased tension in Ukraine, with the Japanese index slumping 3.3%. A sharp rise in the yen overnight didn't help matters.
  • "Japan stocks often take the first hit on bad Asian news, then when the U.S. markets fall later, they react to that as well, resulting in a 'double whammy' effect," says hedge-fund manager Ed Rogers.
  • Hong Kong shares are also suffering as the Hang Seng drops 0.9% and heads for its worst week since May 2012.
  • Elsewhere in Asia, China -0.8% and Indian -0.9%.
  • Meanwhile, Japanese industrial production rose 3.8% on month vs a prior estimate of +4%.
  • On year, output +10.3% vs +10.6%.
  • Capacity utilization +5.9% vs +2.2%.
  • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, JYN, NKY, DBJP, EZJ, EWV, YCL, JPNL, ITF, JGBL, JPP, JGBT, JPNS, JGBB, HEWJ, FJP, EWH, EWHS, FCHI, FHK
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