Most Asia markets head higher, but Nikkei wavers between gains and losses
Most Asia markets traded higher on Tuesday, while Japanese shares wavered amid a muted reaction to
better-than-expected economic data. The benchmark Nikkei 225 traded flat at 16,735.78, while the Topix was up 0.03 percent, with the indexes wavering modestly between positive and negative.
Data released before the market opened showed Japan's household spending fell 0.5 percent on-year in July, narrower than a Reuters poll forecast for a 0.9 percent decline. Japan's retail sales slipped 0.2 percent on-year in July, a narrower decline than a median market forecast for a 0.9 percent drop, according to Reuters.
The better-than-expected read, however, did not convince some analysts who believed a combination of persistently low wage and output growth would likely weigh on spending decisions of Japanese households in the near future. Japan's seasonally adjusted unemployment rate for July came in at 3.0 percent, a touch lower than June's 3.1 percent and the lowest since 1995.
Most Asia markets traded higher on Tuesday, while Japanese shares wavered amid a muted reaction to
better-than-expected economic data. The benchmark Nikkei 225 traded flat at 16,735.78, while the Topix was up 0.03 percent, with the indexes wavering modestly between positive and negative.
Data released before the market opened showed Japan's household spending fell 0.5 percent on-year in July, narrower than a Reuters poll forecast for a 0.9 percent decline. Japan's retail sales slipped 0.2 percent on-year in July, a narrower decline than a median market forecast for a 0.9 percent drop, according to Reuters.
The better-than-expected read, however, did not convince some analysts who believed a combination of persistently low wage and output growth would likely weigh on spending decisions of Japanese households in the near future. Japan's seasonally adjusted unemployment rate for July came in at 3.0 percent, a touch lower than June's 3.1 percent and the lowest since 1995.
