Wednesday 5 June 2013

Japanese stocks rebound

Japanese stocks rebounded on Tuesday. The Nikkei 225 rose 2.1 percent.

US stocks fell on Tuesday though. The S&P 500 declined 0.6 percent.

US stocks fell despite relatively good economic data on Tuesday. A report showed that US exports rose 1.2 percent in April to $187.4 billion, the second-highest level on record. Imports jumped 2.4 percent, resulting in a wider trade deficit.

There were also good economic data from the UK on Tuesday. The Markit/CIPS construction PMI increased to 50.8 in May from 49.4 in April. The British Retail Consortium reported that retail sales rose 3.4 percent in May compared with the same month last year.

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