Asian shares were mixed on slowed Chinese manufacturing data

US shares lost on weak Q1 US growth

American stock market trended downward on weaker-than-expected first-quarter US growth, which may have a strong effect on the US Federal Reserve decision concerning the interest rate hike beyond June. US economic growth, as measured by gross domestic product, was only 0.2% at an annualized rate in the first quarter — below the consensus forecast of 1% and down from 2.2% in the fourth quarter. Consumer spending rose 1.9%, slightly better than expected despite harsh weather.

The main S&P 500 gauge went down 0.03% to 2,108.29 points over five trading days of the previous week. Among the best-performing sectors, telecommunications and technology increased 2.3% and 2.2%, respectively. On the other hand, companies from the energy sector dropped 0.4% over the week. Among the leaders, predominantly, gold producer companies, as some stocks within the mining sector get a boost from the rising price of gold. Meanwhile, gold for June delivery is up by 0.76% to $1,212.30 per ounce. Therefore, Freeport-Mcmoran Inc., advanced 15.9% to trade at $23.66, while Newmont Mining Corp, added 12.9% to $26.49 per share. On the other hand, a number of companies experienced strong decrease in value, including Wynn Resorts Ltd., a developer and operator of high end hotels and casinos and Biogen Inc., the third largest biotechnology company in the world, as they lost 13.2% and 13.1% to close at $112.71 and $386.22.

Meanwhile, the Dow Jones Industrial Average shrunk 0.08% to 18,024.06 level on Friday, while NASDAQ traded down 1.08% to 5,005.39 points.

Japanese stocks dropped despite positive consumer price data

The Japanese share market also showed a negative tendency in course of the last trading week, despite the rather positive consumer prices data announcement. A day after the Bank of Japan left monetary policy unchanged, the country’s core consumer price index rose 0.2% — the first increase in almost a year, though still far below the BOJ’s 2% annual target. Japan’s unemployment rate edged down to 3.4% in March from 3.5% in February as labor force participation fell.

The benchmark Topix Index dropped as much as 2.07% to 1,585.61 points. However, all industries gained in value including securities and insurance, as they soared 7.8% and 5.2%, respectively. Kubotek Corp, a Japan-based company mainly engaged in the manufacture of image processing equipment, continued its positive tendency, as stocks jumped 116.23% to close at a 1,293 yen mark on Friday’s evening. Hokuriko Electrical Const, engaged in the facilities construction business, followed with a surge of 23.5% to 1,745 yen. Meanwhile, some sectors traded down during the last week, as construction lost 3.3% and nonferrous metals dipped 1.1%. On the contrary, the losses were led by Broadleaf Co Ltd., the company which provides information technology, since it plunged 17.4% to 1,839 yen.

The second-largest equity index of Japan, the Nikkei 225, reported a faster pace of increase than its domestic counterpart, and plunged 2.2% to 19,531.63 points at market closing time on Friday.

Asian shares were mixed on slowed Chinese manufacturing data

Stock market in the Asia-Pacific region was the only one, which traded in a rather positive environment, in course of the previous week. Concerning the fundamental news, China’s official manufacturing purchasing managers’ index was unchanged at 50.1 in April, while the non-manufacturing PMI slowed to 53.4 in April from 53.7 in March. Meanwhile, the Markit preliminary manufacturing PMI fell to a one-year low of 49.2 points in April, indicating modest contraction.

The main S&P/ASX 200 gauge dropped 2.8% to trade at 5,814.4 points on Friday. Among all industries, basic materials, technology and utilities consumer staples, showed an advance in value, as they jumped 4.9%, 3.3% and 2.8%, respectively. Resolute Mining Ltd, an Australia-based company which is engaged in gold mining, and prospecting and exploration for minerals, surged 24.07% to $0.325, following the release of its quarterly activities report. For the three months ended 31 March 2015, Resolute produced 91,792 ounces of gold at an all-in sustaining cost of $918 per ounce, well below the December quarter AISC of $1,154/oz. Meanwhile, ALS Ltd., an Australia's second-largest internet service provider, followed with a 15.05% rise to $5.63. From the other side, Resmed Inc-CDI, a global manufacturer of products for the treatment of sleep disorders, particularly obstructive sleep apnea, plummeted as much as 13.8% to $8.20, since the Q3 results disappoint.

Among other market gauges, Hang Seng Index from Hong Kong wend down 1.04% to 28,133. NZX 50 Index of New Zealand, in turn, added 0.4% to close at 5,797.40 points last Friday.

EXPLANATIONS

Indexes

• Standard & Poor's 500 Index (S&P 500) or (SPX) - U.S. stock market index consisting of the 500 large-cap shares widely traded on the New York Stock Exchange and the NASDAQ.

• Dow Jones Industrial Average Index (INDU) - U.S. stock market index consisting of the 30 large publicly owned U.S. companies , primarily industrials

• NASDAQ Composite Index - U.S. stock market index representing all the stocks that are traded on the Nasdaq stock market, mostly technology and Internet-related

• New Zealand Exchange 50 Gross Index (NZX 50) - stock market index consisting of the top 50 companies listed on the New Zealand Stock exchange

• S&P/ASX 200-a market - capitalization weighted stock market index of stocks listed on the Australian Securities Exchange from Standard and Poor’s

• Hang Seng Index (HI) - Hong Kong’s stock market index consisting of 48 largest companies listed on the Hong Kong Exchange

• Japan’s Nikkei Stock Average (Nikkei 225 Index) or (NKY) - Japanese stock market index consisting of the 225 largest companies listed on Tokyo Stock Exchange

• FTSE 100 Index (UKX) - U.K. stock market index consisting of the 100 most capitalized U.K. companies trading on the London Stock Exchange

• DAX Index (DAX) - German stock market index consisting of the 30 largest and most liquid German companies trading on the Frankfurt Stock Exchange

• Eurostoxx 600 - stock market index, derived from the Stoxx Europe Total Market Index, consisting of 600 large, mid – and small-sized companies from 18 European countries

Chart

• Correlation - statistical measure of the linear relationship between two random variables. It is defined as the covariance divided by the standard deviation of two variables.

• Historical price changes - chart reflecting the historical price changes of particular region’s stock indices

Indicators

• Industry performance - weekly performance of industries within the particular stock market index

• Top performers - companies within a particular stock market index showing the best or worst weekly performance

• Performance - relative historical change of stock market index value