Its going to be another day in the red, with this kind of news coming from China
Reuters wrote:Japan's economy shrank more than expected in the final quarter of last year as consumer spending and exports slumped, adding to headaches for policymakers already wary of damage the financial market rout could inflict on a fragile recovery.
Gross domestic product contracted by an annualized 1.4 percent in October-December, bigger than a market forecast for a 1.2 percent decline and matching a fall marked in the second quarter of last year, Cabinet Office data showed on Monday. It followed a revised 1.3 percent increase in the previous quarter..........
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With his stimulus policies that gave big manufacturers windfall profits, Abe had hoped to generate a positive cycle in which companies raise wages and help boost household spending.
Instead the data showed that private consumption, which makes up 60 percent of GDP, fell 0.8 percent, exceeding market forecasts of a 0.6 percent decline.
Economy Minister Nobuteru Ishihara told reporters after the data was issued that the economy would head for a moderate recovery as its fundamentals remained strong.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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