
Asia Stocks Rise With Oil Price, Tokyo Flat
Mohammad Ali (@ChaudhryMAli88) Published August 15, 2016 | 11:06 AM

HONG KONG, (UrduPoint / Pakistan Point News - 15th Augst,2016) - Tokyo stocks were flat Monday after figures showed Japan's economy stalled in the second quarter, but some other Asian markets climbed along with a rise in the oil price.
Shanghai jumped more than one percent while Sydney and Hong Kong were also up by mid-morning, even after weak economic data out of the eurozone and US on Friday left European and Wall Street stocks under pressure and gave Asia a weak lead.
In Japan, data showed that growth in the world's third largest economy was flat at 0.0 percent quarter-on-quarter, missing economists' predictions for a 0.2 percent expansion in the April-June period as weak exports and a fall in business spending held back activity.
On an annualised basis, the economy expanded by a slight 0.2 percent, well off expectations for 0.7 percent growth. "Today's data are quite disappointing," said Junko Nishioka, chief economist at Sumitomo Mitsui Banking. "The situation is becoming tougher and tougher.
There is the rally in the Yen and worries about Japan's prospects in overseas markets. And so companies are becoming more pessimistic about making investments." Tokyo edged up just 0.79 points percent by the break. However, embattled electronics maker Sharp surged 15 percent on news the giant has completed a deal to be acquired by Taiwan's Hon Hai Precision, known as Foxconn.
Related Topics
Recent Stories

PML-N asks ECP to take notice of PTI’s intra-party elections

COAS vows to defend territorial integrity, sovereignty of Pakistan against all t ..

Developing countries must be provided with finances, technology to deal with cli ..

Barrister Gohar Khan becomes new PTI chairman

Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 2 December 2023

Today Gold Rate in Pakistan 02 December 2023

Senior journalist Ajmal Dehlvi passes away

Rinku, spinners help India down Australia to clinch T20 series

PPP eying on youth votes to win 2024 polls; says Sharmila Farooqi

DC Kohat visits KUST

Caretaker Prime Minister Anwaar-ul-Haq Kakar holds informal interactions with wo ..

FIA arrests 4 HESCO officials
More Stories From Business
-
China's Shanxi reports record-high monthly coalbed methane output
2 hours ago -
China's installed capacity of renewable energy grows
2 hours ago -
China's logistics sector sustains growth
3 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 2 December 2023
5 hours ago -
Today Gold Rate in Pakistan 02 December 2023
6 hours ago -
Stocks mixed tracking cooler inflation, weak growth
17 hours ago
-
Mega KPEC project under construction in district Khyber: Dr Aamir
20 hours ago -
PSX stays bullish, gains 1,159 points
19 hours ago -
Trade deficit shrinks by 33.59 percent, export grow by 1.93% in 5 months
19 hours ago -
Deposit Protection Corporation safeguarding 98% bank deposits
20 hours ago -
Weekly inflation goes down by 0.23 pc
21 hours ago -
Gold prices slightly go down in Pakistan
22 hours ago