Asian stock markets august 13 2012

Asian stock markets august 13 2012 : Asian stocks were mixed on Monday, caught in a tug-of-war between bears who sold on soft Japanese gross domestic product data and bulls who bought on sentiment weak data will prompt central banks to stimulate their respective economies, which would send stocks rising.

During Asian trading on Monday, Hong Kong's Hang Seng Index was down 0.12%, Australia's S&P/ASX200 was up 0.45%, while Japan’s Nikkei 225 Index was down 0.04%.


Earlier Monday, Japan reported its gross domestic product grew less than expected in the second quarter, expanding 0.3% according to preliminary figures, below market forecasts for 0.6% growth and well below the first quarter's rate of 1.3%.

The news prompted many investors to sell stocks on fears that the global economy was cooling, especially considering the numbers came right on the heels of disappointing data elsewhere.

China reported last week that its trade surplus narrowed unexpectedly in July, dropping to USD25.1 billion from a USD31.7 billion surplus.

In Hong Kong, top decliners included Tencent, down 2.45%, China Resources, down 1.83%, and Hang Seng Bank, down 1.70%.

In Australia, top gainers included Bluescope Steel, up 34.62% on news the company entered into a joint venture with Nippon Steel Corp, Downer EDI, up 11.54%, and Envestra, up 10.90%

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