FXstreet.com (Barcelona) - After yesterday's down revision of the China GDP forecasts to 7.7% in 2012 (from 8.2%) and to 8.1% in 2013 (from 8.6%) by World Bank, the IMF downgraded their global glowth forecast to 3.6% for 2013 (from 3.9%) as they point to “an alarmingly high” risk of a deeper downturn than expected.
Japan's Nikkei Stock Average dropped -1.07% and South Korea's Kospi fell -0.14%. Hong Kong's Hang Seng gained +1.19% and Mainland China's Shanghai Composite rallied +1.72%, while the Australian S&P/ASX 200 followed the Chinese sentiment and edged higher by +0.52%.
Futures for the German DAX 30 and the French CAC 40 are signaling a higher opening by +0.20% and +0.50% ahead of the trade balance report in France at 06:45 GMT and ECB's Draghi speech at 07:30 GMT. WTI crude oil is up by 90.00 (+0.80%) and Gold drops to 1776 (-0.06%).
Japan's Nikkei Stock Average dropped -1.07% and South Korea's Kospi fell -0.14%. Hong Kong's Hang Seng gained +1.19% and Mainland China's Shanghai Composite rallied +1.72%, while the Australian S&P/ASX 200 followed the Chinese sentiment and edged higher by +0.52%.
Futures for the German DAX 30 and the French CAC 40 are signaling a higher opening by +0.20% and +0.50% ahead of the trade balance report in France at 06:45 GMT and ECB's Draghi speech at 07:30 GMT. WTI crude oil is up by 90.00 (+0.80%) and Gold drops to 1776 (-0.06%).
