On the Asian stock markets on Friday rhymes with caution. In low trading volumes, market oscillate between green and red since. The fence fall on Wall Street Thursday despite a sharper drop than expected enrollment in weekly unemployment, let consider such a scenario. U.S. investors remained on guard, waiting for the publication of two key indicators of this weekend: the index of consumer sentiment and particularly the second estimate of U.S. GDP in the second quarter.
Moreover, investors are holding their breath before a speech highly anticipated Ben Bernanke, chairman of the U.S. central bank (Fed) on Friday. Alongside major world central bankers meeting in Jackson Hole, Wyoming, it will review the global economy.
The suspicion is required.The second revision of GDP is expected to decline while the speech of Fed chairman should confirm the fragility of the global economic recovery.
The yen spotlight
In Japan, the Nikkei started the session on a drop of 1.04% before gradually erase their losses. At midday, he won 0.33% to 8935 points. The Topix ahead at the same rate to 814 points. However, the key index in Tokyo had a difficult start to the day, falling again to its lowest in 16 months. This volatility is explained by the expectation surrounding the much anticipated speech of the Prime Minister of Japan, Naoto Kan. According to the entourage of the latter, the government will introduce today the actions it wishes to implement to counter the effects of the high price of the yen.
The strong yen just accelerates deflation, which remains very debilitating to the economic recovery of the archipelago.On Friday again, the Ministry of Internal Affairs announced that consumer prices had fallen by 1.1% yoy in July. This is their 17th consecutive monthly decline. Moreover, Japan's unemployment rate fell to 5.2% in July against 5.3% in June after previously recorded four consecutive months of increases.
The rest of the region patient
In China, stock markets are more expectant. In Hong Kong, the Hang Seng 0.10% to loose 20590 points while in Shanghai, the key index lost 0.34% to 2594 points.
The Korean Stock Exchange drops 0.95%, the S & P Australian takes 0.43%, and the Indian Sensex is at equilibrium to -0.03%.
Oil down
Oil prices fall below $ 73 Friday in Asia.In morning trading, a barrel of light sweet crude for October delivery lost 37 cents to 72.99 dollars, while that of Brent North Sea crude for October delivery lost 33 cents to 74.69 dollars.
On Thursday, oil prices had rebounded in New York, supported by an indicator on the job better than expected and a weakening dollar. But oil markets also fear bad news on Friday.
