Press Release Summary: Asian-based Cornerstone Worldwide welcome data but exercise vigilance as US demand weakens
Press Release Body: Cornerstone Worldwide researchers are reported to be encouraged that Japan\'s exports in May rose more than expected from a year earlier. The wealth management firm cited the numbers as a sign that growth in Asia and other developing countries is continuing to offset falling U.S. demand -- at least for now.
Despite this, Cornerstone Worldwide sources were apparently cautious about the outlook, warning that the impact of the U.S. downturn will eventually spread to other parts of the world, thereby exacerbating Japan\'s already weakening corporate activity.
Although Cornerstone Worldwide outlook on Japan is expected to remain eminently bullish, the fact that exports did rise did little to offset the stark reality that the growth was not as strong as they would have liked. Exports climbed 3.7 percent from a year earlier, beating a median forecast for a 1.9 percent rise and keeping pace with the 3.9 percent increase logged in April.
Cornerstone Worldwide has some $25m under management invested in emerging market equities, commodities and treasuries.
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