Japan's Export Rose to a 3-Year High, Surging 16.8% in January

Japan's exports hit a 3-year high, growing 16.8% in January, as value of exports to China jumped 32%. Shipments to Asia and Western Europe soared 26% and 25%, respectively, more than offsetting the 3.3% decline in North America. Food (31.3%), machinery (14.3%), and electrical machinery (27.3%) saw the highest growth. Imports fell 2.5% year-on-year, beating expectations of 3% rise. The Nikkei 225 stock index rose 0.9%, Topix gained 1.26%, and the yen strengthened to 153.43 against the U.S. dollar. Japan's economy expanded just 0.1% year-on-year in Q4, with GDP growth at 1.1% for the full year. A $550 billion dollar commitment to invest in the U.S. and trade deal is expected to boost growth further.