Japan Logs Record 2022 Trade Deficit, India's Domestic Air Traffic Rebounds

Arjun Pandit
19 Jan, 2023
Mumbai

Asian markets diverged amid the weakening global sentiment and reacted to local news. 

Japan's trade deficit widened in December on higher energy and raw materials prices and weaker yen, the Finance Ministry said in a report released Thursday. 

In full-year 2022 international trade deficit soared to ¥19.97 trillion or $155 billion, surpassing the previous high ¥12.82 trillion in 2014. 

The annual deficit was the largest since record keeping began in 1979 and weaker yen played a crucial role in widening the deficit. 

In December, imports soared 39.2% to a record ¥118.16 trillion and exports jumped 18.2% to record ¥98.19 trillion.

Japan recorded a trade deficit for the 17th month in a row in December and posted a second annual deficit in a row in 2022. 

Stocks in Japan were under pressure ahead of the inflation report on Friday. Automakers led the losers with Toyota Motor, Honda Motor and Mitsubishi Motor falling between 2% and 4.5%. 

J Front Retailing jumped 3% after inbound tourists in Japan surged in 2022. 

 

Japan's Tourists Arrivals Surge In 2022 

Total international arrivals in 2022 soared more than 15-fold from a year ago to 3.83 million, the Japan National Tourism Organization reported Thursday. 

Tax-free sales increased to ¥17.5 billion in November and jumped five-fold from the previous year, the Japan Department Stores Association said on Wednesday. 

The Nikkei 225 average fell 1.4% to 26,405.23 and the yen weakened to 128.30 against the U.S. dollar. 

 

China Stocks Lack Momentum 

Stocks in China closed mixed and investors took a cautious view in the absence of domestic economic or corporate news.  

The Shanghai Composite index increased 0.5% to  3,240.28 and the Hang Seng Index declined 0.1% to 21,650.98. 

 

India's Domestic Air Traffic Jumped In 2022

Stocks in Mumbai rested after two-days of advance and investors weighed the prospect of U.S. recession against the weakening of oil price in international trading and the dollar edged lower. 

Domestic passenger air traffic surged nearly 47% to 12.3 crore or 123 million in full-year 2022 from 8.4 crore or 84 million in 2021, the aviation regulator DGCA said in a statement today.

The Sensex index decreased 0.3% or 187.31 to 60,858.43 and the Nifty index fell 0.3% or 57.50 to 18,107.85. 

Adani Enterprises fell as much as 4% after the company set floor price of ₹3,112 a share with a 10% discount for retail investors for its $2.5 billion secondary offering. 

Coal India advanced 2% after the coal ministry set an annual production target of one billion tons in the next financial year. 

Hindustan Unilever said December quarter revenue increased 16.4% to ₹15,707 crore and net income rose 7.9% to ₹2,481 crore.