by Martin Armstrong
Armstrong Economics
The Nikkei was not the main topic of conversation today in Asia as the Shanghai and Hang Seng both outperformed the Tokyo exchange. The HSI closing up 0.85% and was the best performer, until after Asian cash markets closed. Throughout the European and US time zone the JPY has weakened through the 103 handle and that has been the driver for the Nikkei futures (last seen up 0.9%). Japanese unemployment was released at 3% whilst expectations were calling for a 3.1% quote. Much dominates debate surrounding demographics and the 500k a year shrinkage number but still looks more like a currency play really given JPY lost 1.1% in late trading.