Japan machinery orders fall 6.4%

Machinery orders in Japan, which is considered a key measure of capital spending, fell 6.4 per cent month-on-month in October.

The latest data from the Cabinet Office showed a decline in private sector machinery orders, which excludes volatile ones for ships and those from electric power companies, for the first time in five months.

In September, machinery orders were up by 2.9 per cent month-on-month.

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The total value of machinery orders received by 280 manufacturers operating in Japan was down by 2.9 per cent in October from the previous month.

Asian markets have continued to trade down on the back of the latest data from Japan and declining oil prices, with the Nikkei 225 closing down 0.9 per cent to 17,257.40.