Asian stock markets were mixed Thursday after the U.S. economy contracted and China reported stronger factory activity.
The Nikkei 225 JP:NIK in Tokyo fell 1.3% after June industrial production slumped 7.2% compared with the previous month. That was the sharpest decline since the start of the coronavirus pandemic in early 2020.The Nikkei 225 NIK in Tokyo fell 1.3% after June industrial production slumped 7.2% compared with the previous month. That was the sharpest decline since the start of the coronavirus pandemic in early 2020.
Wall Street’s benchmark S&P 500 index edged down 0.1% on Wednesday after data showed the U.S. economy shrank in the first quarter amid high inflation and weakening consumer confidence. The S&P 500 SPX slipped to 3,818.83 after official data showed economic activity contracted 1.6% at an annualized rate in the three months ending in March. That was the first contraction since the second quarter of 2020 in the depths of the pandemic.The Dow Jones Industrial Average DJIA rose 0.3% to 31,029.31. The Nasdaq composite COMP slipped less than 0.1% to 11,177.89.
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