Asia stocks subdued as Japan data, Syria weigh: AP

30.08.2013 13:01
Asia stocks subdued as Japan data, Syria weigh: AP

YEREVAN, August 30. /ARKA/. Asian stock markets were subdued Friday after Japanese manufacturing undershot expectations and worries about Syria's civil war dampened investor spirits.

Japan's Nikkei 225 index shed morning gains after the government released figures that, while showing some strength, fell short of expectations.

Manufacturing in the world's No. 3 economy rose 1.6 percent in July from a year earlier and 3.2 percent from the month before. While that pointed to an economic recovery, analysts had expected to see a 3.6 percent increase. Still, the Ministry of Economy, Trade and Industry said it foresaw further expansion in August and September.

"If these forecasts are realised, industrial production momentum will climb to new highs," analysts at Capital Economics said in a written commentary.

The Nikkei in Tokyo fell 0.7 percent to 13,369.49. Hong Kong's Hang Seng lost 0.1 percent to 21,681.16. South Korea's Kospi gained 0.5 percent to 1,918.39. Australia's S&P/ASX 200 gained 0.5 percent to 5,117.50. –0--

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