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New Zealand and Japan highlight Asia this week
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24/06/2012 03:36:08 PM
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Publish Date24/06/2012 03:36:08 PM
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A light load of fundamentals await Asian markets next week, where it contains many indicators for the Asian economies which will clear the picture to investors.
New Zealand is scheduled to release its trade balance for May, where the previous reading recorded a surplus with NZ$ 355 million, as well as exports that recorded NZ$ 3.89 million the previous month.
New Zealand recorded an unexpected strong expansion during the first quarter of the year, the most in five years, despite the downside pressure from Europe’s debt crisis, where the GDP growth rose 1.1% compared with a previous reading of 0.4%.
From Japan , industrial production reading will be released for the month of May, where the previous reading recorded a decline with 0.2% as well as yearly basis reading that recorded 12.9% the previous month.
The current situation is not promising, where Japan’s trade balance recorded a widened deficit in May despite the rise in exports by 10.0%. The deficit shows that Japanese exports have been affected by the crisis in euro area and slowing global growth. In addition of the effect of higher energy imports because of the closure of plants and nuclear reactors, this forced Japan to raise the level of imported energy.
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