Investing.com - Japanese core machinery orders rose unexpectedly in February, increasing for the second consecutive month, official data showed on Wednesday.
In a report, Japan’s Cabinet Office said core machinery orders rose by a seasonally adjusted 4.8% in February, confounding expectations for a 0.8% decline.
Japanese core machinery orders rose by an unrevised 3.4% in January.
The data showed that year-on-year, core machinery orders increased at an annualized rate of 8.9%, after rising at a rate of 5.7% in January, easily surpassing expectations for a 3.0% gain.
Following the release of the data, the yen was lower against the U.S. dollar, with USD/JPY gaining 0.31% to hit 80.93.
Meanwhile, Asian stock markets were broadly lower. Hong Kong's Hang Seng Index declined 1.2%, Australia’s ASX/200 Index dropped 1.1%, while Japan’s Nikkei 225 Index slumped 0.9%.
In a report, Japan’s Cabinet Office said core machinery orders rose by a seasonally adjusted 4.8% in February, confounding expectations for a 0.8% decline.
Japanese core machinery orders rose by an unrevised 3.4% in January.
The data showed that year-on-year, core machinery orders increased at an annualized rate of 8.9%, after rising at a rate of 5.7% in January, easily surpassing expectations for a 3.0% gain.
Following the release of the data, the yen was lower against the U.S. dollar, with USD/JPY gaining 0.31% to hit 80.93.
Meanwhile, Asian stock markets were broadly lower. Hong Kong's Hang Seng Index declined 1.2%, Australia’s ASX/200 Index dropped 1.1%, while Japan’s Nikkei 225 Index slumped 0.9%.