The only major Asian market trading today ‘Japanese stock exchange’ ended in green on Thursday, as data showed the country’s exports grew at the fastest annual pace since late 2013 as a weaker yen made it more competitive. Markets in China, Indonesia, Malaysia, Philippines, Singapore, Taiwan and South Korea were all shut on account of trading holiday. Japan’s annual exports in January jumped the most since late 2013 in an encouraging sign a weak yen is finally boosting the nation’s all-important export engine and helping the economy crawl out of recession. The 17% year-on-year gain in exports marked the fifth straight month of increase, supported by shipments of cars to the United States and of electronics parts to Asia. The ministry officials stated that exports are on a firm footing, adding that special factors helped boost shipments such as a rebound from last year’s Chinese New Year holidays which fell in January, and extreme cold weather which hit the US economy a year ago.
Japan’s index of leading economic indicators rose to a seasonally adjusted 105.6, from 105.2 in the preceding month while Japan’s All Industries Activity Index fell to a seasonally adjusted -0.3%, from 0.0% in the preceding month whose figure was revised down from 0.1%. Japan’s trade balance rose to a seasonally adjusted -0.41T, from -0.62T in the preceding month whose figure was revised up from -0.71T.
Nikkei 225 gained 65.62 points or 0.36% to 18264.79.