Piazza Affari reverses course and turns downwards at 9,45 this morning, on Monday when it scores -0,8% to 18.874 points. Same fate for the other European markets with London -0,3%, Paris -0,36%, Frankfurt -0,27%. The initial optimism is curbed by the corrections on crude oil which has resumed its descent below 32 dollars (Brent -2,89% to 31,25). The data on Japanese exports, which in December recorded the most sustained decline in three years, are also likely to have an impact, fueling fears of a contraction in GDP in the last quarter of 2015 and signaling the negative impact of the slowdown in China and other emerging countries on the Japanese economy, heavily dependent on exports.
According to data from the Ministry of Finance, in December exports contracted by 8% on an annual basis - the worst result since September 2012 - depressed by the slowdown in Chinese demand. Imports decreased by 18,1% on a yearly basis.
The result was a trade surplus of 140,2 billion yen against 100 billion of expectations and after the red of 379,7 billion in November.
The weakness of today's data will keep up the pressure on the Bank of Japan - Reuters points out - because of various new expansive measures already at the next monetary policy meeting, which kicks off this Thursday.
For the full year of 2015, Japanese exports grew 3,5%, the third annual increase in a row, while imports fell 8,7%, marking the first contraction in six years, due to the price collapse of oil.
The main Asian stock exchanges today recorded a generalized increase, also thanks to the recovery in oil prices. Last week, the collapse of crude oil had kept the financial markets in check, with quotations falling to 26 dollars, before then returning to above 32 dollars a barrel. To galvanize investors are added the promises of new stimuli to the economy by the governor of the ECB, Mario Draghi.
In Tokyo, the Nikkei index gained 0,90% to 17.110,91 points, after bringing home nearly 6% on Friday, while the broader Topix index finished trading 1,34% higher at 1.392,639 points.
Of the already closed markets, Seoul recorded a gain of 0,74%, Taiwan 1,78%. Among the exchanges still in trading, however, Shanghai advanced by 0,75%, Hong Kong by 1,58%, Singapore by 0,93%, Bangkok by 1,49%, Jakarta by 1,37% and Kuala Lumpur by 1,52%.
