Tens of thousands clogged Tokyo Monday as they protested Japan's restarting of reactors in the wake of 2011's tsunami and nuclear disaster.Two of the country's fifty reactors are back on line at the Ohi plant.
Japan's GDP came in lower than expected at -3.5 versus the -3.4 estimate,on falling exports to a slowing China and Chinese protests against Japan's territorial claims.Consumer spending has also dropped,further shrinking the Japanese economy.The Nikkei was down 61.04 after the lunch break Monday.
The MSCI Asia Pacific index fell 0.30% in early Monday trading,while India's Nifty Fifty and Sensex indexes rose about 0.20%.A big wireless spectrum auction is being conducted by the Indian government.
Toyota Motors will be doubling its capacity in Indonesia,building a new engine plant there.
Australian treasurer Wayne Swan has been warning about the results of the fiscal cliff,a combination of US tax increases and spending cuts of some 800 billion dollars that will apply on January 1.Without action by Congress,there would be a severe blow to the fragile global economy.The world can't afford the continuation of this gridlock in Washington.Mr.Swan has met with US Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke to express his concern.
Gold is at a near three-week high on the fiscal cliff worry.
China's trade surplus came in at 32 billion dollars in October,a rise of 11.6%.Copper imports were down to their lowest level in 15 months,dropping 18%.Australian mining shares have declined because of the Chinese slowdown.
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