Japanese Economy Minister Akira Amari is worried that markets are over-reacting to weaker-than-expected economic data. Speaking to reporters, he said the overnight US data still shows the worlds largest economy in an upward momentum. Earlier this morning, Japanese stocks plunged in reaction to Wall Streets overnight fall, following weak US manufacturing data for January. The Nikkei Stock Average was down 3 percent at 14,184. Mr Amari reiterated that the US Fed tapering isnt about reducing the money supply, but about slowing the pace of monetary stimulus. Elsewhere, regional markets also took a tumble, with Hong Kong down 2.2 percent, Sydney falling 1.3 percent and Seoul shedding 1 and a half percent. 938LIVE / tt
Posted on: Tue, 04 Feb 2014 02:19:32 +0000
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