
The Asian stock markets have recorded an index rise after Taiwan has reported faster economic growth than expected, at a level of 6.9% for the fourth quarter of 2010. As such, the Tokyo stock exchange reports a 0.03% rise, the Seoul stock exchange rises by 1.6%, the Hong Kong stock exchange climbs by 1.0% and the Taiwan stock exchange soars by 1.9%.
The macroeconomic front in the United States provided mixed data yesterday, with the Philadelphia Federal Reserve reporting an increase in manufacturing activity in the Philadelphia area to 35.9 points, its highest level since January 2004, where economists had expected merely a light increase of the index to a level of 21 points.
The United States Department of Labor also published the weekly unemployment data yesterday. The amount of new unemployment claims increased last week by 25 thousands to a total of 410 thousand, above analysts' prediction of 400 thousands. Furthermore, the Department also adjusted last week's data to 385 thousand as compared to the original report of 383 thousand it had reported originally, which was the lowest number of weekly new unemployment claims reported in over two years.
Furthermore in the macroeconomic field, it has been reported yesterday that the CPI in America has risen in January by 0.4% - a second monthly rise in a row, while economists had predicted a more moderate 0.3% climb. As compared to January 2010, the Index has completed a 1.6% climb. The core index, which excludes the prices of fuel and food, considered too volatile rises by 0.2% - the sharpest increase since October 2009.
Commodity prices had also risen yesterday on the background of pro-democracy protests in the Middle East. Gold futures in April had locked at 1,385 United States dollars for one ounce of gold - the highest close in five weeks - at the New York Commodities Exchange. Crude oil futures for March at the New York Commodities Exchange had locked at a rate of 86.36 United States dollars for one barrel of oil, after having risen 1.6%.
