Japan Falls 3% After Historic U.S. GDP Contraction China’s Factory Activity Beats Expectations

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Japan Falls 3% After Historic U.S. GDP Contraction China’s Factory Activity Beats Expectations Veronica 07/31/20 (Fri) 10:01:57 8a99cc No.263521

By Eustance Huang

https://twitter.com/EustanceHuang

Stocks in Asia Pacific were mixed on Friday following a record contraction in U.S. gross domestic in the second quarter.

Japanese stocks led losses among Asia’s major markets, with the Nikkei 225 down 2.82% to close at 21,710 as shares of conglomerate Softbank Group dropped 4.39% while the Topix index ending its trading day at 2.82% to 1,496.06. Shares in Australia also saw sizable losses with the S&P/ASX 200 falling 2.04% to close at 5,927.80.

Mainland Chinese stocks were higher on the day, with the Shanghai composite up 0.71% to about 3,310.01 while the Shenzhen component gained 1.27% to around 13,637.88.

https://www.cnbc.com/2020/07/31/asia-markets-us-gdp-china-manufacturing-activity-currencies-in-focus.html

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