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The most Asian stock indices increased, following U.S. equity indexes. The Dow Jones and S&P 500 closed at all-time highs, supported by expectation that U.S. economy is improving.
The weaker-than-expected economic data in China had a negative impact on stock markets. Retail sales in China increased 11.9% in April, from a 12.2% rise in March. Analysts had expected an increase of 12.2%. China’s industrial production rose 8.7% in April, from an 8.8% rise in March. Analysts had forecasted an increase of 8.9%. Fixed asset investment in China climbed 17.3% in April, from a 17.6% gain in March. Analysts had expected a 17.8% rise.
The Japanese index Nikkei 225 profited from the weak yen due to decreasing demand for the safe-haven currency.
Indexes on the close:
Nikkei 225 14,425.44 +275.92 +1.95%
Hang Seng 22,352.38 +90.77 +0.41%
Shanghai Composite 2,050.73 -2.14 -0.10%
Nissan Motor Co. shares climbed 5.1%, beating estimates of its full-year profit.
Sharp increased 5.0% after the company forecast that the profit would nearly triple in the current fiscal year.
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