BANGKOK (AP) — Asian stock markets struggled to make headway as data on Japan's economy disappointed investors and worries persisted about growth in China and Europe's ability to pull out of a debt crisis.
Japan's economy grew at a slower-than-expected annualized rate of 1.4 percent in April-June, with Europe's economic and debt crisis hitting the country's export sector hard. The report, coming on top of weaker-than-expected trade data from China on Friday, compounded fears of a global economic slowdown.
Still, Japan's Nikkei 225 rose 0.2 percent in early trading, apparently sustained by an economy that was still in growth mode despite multiple headwinds. Hong Kong's Hang Seng fell 0.2 percent to 20,086.47 and South Korea's Kospi lost 0.4 percent to 1,939.37. Australia's S&P/ASX 200 rose 0.5 percent to 4,300.60.
Stan Shamu of IG Markets in Melbourne said investors remained frustrated by slowing export growth out of China and a less-than-expected decline in inflation in the world's second-largest economy. China said Friday that its exports rose 1 percent over a year earlier, well below the 5 percent that economists expected.
But the dismal report helped fuel speculation that China's central bank was preparing to act with some type of measure to spur business activity.
Shamu said in an email commentary that "easing talk is likely to ramp up over coming sessions and this could support markets and limit downside."
Benchmark oil for September delivery rose 38 cents to $93.25 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 49 cents to end at $92.87 per barrel in New York on Friday.
In currencies, the euro fell to $1.2281 from $1.2294 in New York on Friday. The yen fell slightly to 78.28 yen from 78.26 yen.
Wednesday, June 19 2013 8:30 AM EDT2013-06-19 12:30:41 GMT
Natura Pet Products is voluntarily recalling all Innova, California Natural, EVO, Healthwise, Mother Nature and Karma branded dry pet food and biscuit, bar, and treat products with expiration dates prior to June 10, 2014, because of a positive Salmonella test.
Natura Pet Products is voluntarily recalling all Innova, California Natural, EVO, Healthwise, Mother Nature and Karma branded dry pet food and biscuit, bar, and treat products with expiration dates prior to June 10, 2014, because of a positive Salmonella test.
Wednesday, June 19 2013 6:12 AM EDT2013-06-19 10:12:52 GMT
A senior administration official says Gov. Andrew Cuomo and legislative leaders have struck a deal to authorize four upstate casinos and to allow votes on 10 separate women's rights bills including an abortion...
A senior administration official says Gov. Andrew Cuomo and legislative leaders have struck a deal to authorize four upstate casinos and to allow votes on 10 separate women's rights bills including an abortion proposal...
Tuesday, June 18 2013 11:03 PM EDT2013-06-19 03:03:58 GMT
Facebook, which owns Instagram, is expected to announce this week a new video option for the popular photo app. Most likely the feature will be for shortened video clips.
Facebook, which owns Instagram, is expected to announce this week a new video option for the popular photo app. Most likely the feature will be for shortened video clips kind of what you see on Vine.
Tuesday, June 18 2013 2:57 PM EDT2013-06-18 18:57:05 GMT
Chrysler photo via AP
Chrysler said it has resolved its differences with the government and will recall older Jeep Grand Cherokee and Liberty SUVs that could be at risk of a fuel tank fire.
Chrysler said it has resolved its differences with the government and will recall older Jeep Grand Cherokee and Liberty SUVs that could be at risk of a fuel tank fire.
Tuesday, June 18 2013 12:20 PM EDT2013-06-18 16:20:04 GMT
The director of the National Security Agency said Tuesday the government's sweeping surveillance programs have foiled some 50 terrorist plots worldwide, including one directed at the New York Stock Exchange.
The director of the National Security Agency said Tuesday the government's sweeping surveillance programs have foiled some 50 terrorist plots worldwide, including one directed at the New York Stock Exchange.
Monday, June 17 2013 10:10 AM EDT2013-06-17 14:10:37 GMT
For the first time in seven years, most U.S. homebuilders are optimistic about home sales, a sign that construction could help drive stronger economic growth in coming months.
For the first time in seven years, most U.S. homebuilders are optimistic about home sales, a sign that construction could help drive stronger economic growth in coming months.
Saturday, June 15 2013 7:27 PM EDT2013-06-15 23:27:36 GMT
TRENTON, N.J. (AP) — Motorists are seeing stable prices at the pumps in New Jersey.AAA Mid-Atlantic says the average price of a gallon of regular gasoline in New Jersey on Friday was $3.40, the same price as last week. It's also the same price motorists were paying a year ago.The national average price also remained stable, coming in at $3.63 for the second straight week.
TRENTON, N.J. (AP) — Motorists are seeing stable prices at the pumps in New Jersey.AAA Mid-Atlantic says the average price of a gallon of regular gasoline in New Jersey on Friday was $3.40, the same price as last week. It's also the same price motorists were paying a year ago.The national average price also remained stable, coming in at $3.63 for the second straight week.
Wednesday, June 19 2013 12:07 PM EDT2013-06-19 16:07:39 GMT
June 19 is National Dine Out Day. Restaurants and vendors across the country are contributing a percentage of their revenues for the day to the NJ Relief Fund to benefit Superstorm Sandy victims.
June 19 is National Dine Out Day. Restaurants and vendors across the country are contributing a percentage of their revenues for the day to the NJ Relief Fund to benefit Superstorm Sandy victims.
Wednesday, June 19 2013 11:13 AM EDT2013-06-19 15:13:37 GMT
A father and son who admitted they were pimps have been acquitted in New York of sex trafficking after several prostitutes testified they were treated well.
A father and son who admitted they were pimps have been acquitted in New York of sex trafficking after several prostitutes testified they were treated well.
Wednesday, June 19 2013 9:13 AM EDT2013-06-19 13:13:21 GMT
A car crashed into a building on 2nd Avenue and East 4th Street in the East Village on Wednesday morning. At least eight people were injured, three in serious condition, according to FDNY officials.
A car jumped the curb on 2nd Avenue and East 4th Street in the East Village on Wednesday morning injuring eight people. Witnesses say the Nissan was traveling at a high speed before it took out the store front, trees, bicycles, a light post and a fire hydrant.
Wednesday, June 19 2013 8:30 AM EDT2013-06-19 12:30:41 GMT
Natura Pet Products is voluntarily recalling all Innova, California Natural, EVO, Healthwise, Mother Nature and Karma branded dry pet food and biscuit, bar, and treat products with expiration dates prior to June 10, 2014, because of a positive Salmonella test.
Natura Pet Products is voluntarily recalling all Innova, California Natural, EVO, Healthwise, Mother Nature and Karma branded dry pet food and biscuit, bar, and treat products with expiration dates prior to June 10, 2014, because of a positive Salmonella test.
Wednesday, June 19 2013 7:07 AM EDT2013-06-19 11:07:13 GMT
Photo courtesy of @N42_21_W71_04)
Riders should anticipate some changes but "near normal" service on the Long Island Rail Road for the morning rush.
Riders should anticipate some changes but "near normal" service on the Long Island Rail Road for the morning rush. Crews have been working to repair tracks and switches after Monday's derailment.
