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- Asian Stocks close: most stocks declined after the release of the weak U.S. economic growth data
Asian Stocks close: most stocks declined after the release of the weak U.S. economic growth data
Most Asian
stock indices declined after the release of the weak U.S. economic growth data.
The U.S. gross domestic product dropped 1.0% in the first quarter, after a 0.1%
rise the previous quarter. Analysts had expected a 0.6% decline. That was the
first drop in U.S. GDP since the first quarter of 2011.
Mixed
economic data was released in Japan. Japan's core consumer price index
excluding fresh food climbed at an annual rate of 3.2% in April, after a 1.3%
increase in March. That was the fastest pace since February 1991. Analysts had
expected 3.1% rise.
Household
spending in Japan declined by an annualized rate of 4.6% in April, after a 7.2%
rise in March. Analysts had forecasted a 3.2% decrease.
The
industrial production in Japan decreased 2.5% in April, after a 0.7% gain in
March. Analysts had expected a 1.9% drop.
Indexes on
the close:
Nikkei
225 14,632.38 -49.34 -0.34%
Hang
Seng 23,081.65 +71.51 +0.31%
Shanghai
Composite 2,039.21 -1.38 -0.07%
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