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South Korea shares fall on weak growth | South Korea shares fall on weak growth |
(34 minutes later) | |
South Korea's benchmark Kospi fell by 0.1% to 2,063.01 in early trade as data showed very weak economic growth. | |
GDP in the second quarter grew just 0.3% compared with 0.8% in the year's first three months, pulled down by weak exports and the impact of the Mers virus on the economy. | GDP in the second quarter grew just 0.3% compared with 0.8% in the year's first three months, pulled down by weak exports and the impact of the Mers virus on the economy. |
Investors are looking to heavyweights including Hyundai, which report earnings later in the day. | |
Asian shares were also held back by a weak Wall Street performance overnight. | Asian shares were also held back by a weak Wall Street performance overnight. |
In Japan, the Nikkei 225 edged up slightly by 0.4% to 20,667.96 points. | |
Data released on Thursday morning show the country's trade deficit has narrowed sharply last month as exports picked up on the back of a weaker yen. | Data released on Thursday morning show the country's trade deficit has narrowed sharply last month as exports picked up on the back of a weaker yen. |
In June, the value of exports jumped 9.5% while imports fell by 2.9% leaving the trade deficit at 69.0bn yen (£356.2m). | In June, the value of exports jumped 9.5% while imports fell by 2.9% leaving the trade deficit at 69.0bn yen (£356.2m). |
Hong Kong's Hang Seng traded flat at 25,256.46 points, as did the Shanghai Composite at 4,021.39 points. | |
Australian shares continue the past days' slump and the ASX/200 was down 0.2% at 5,606.00 points. | |
Once again, most of the country's mining companies were losing ground, with BHP Billiton down 2.5% and Fortescue falling even more with 3.1%. | |
After the release of its latest output data, Newcrest beat the trend and rose 2.5% as the company said it met its full-year target, beating hesitant analyst forecasts. |