Wednesday 19 October 2016

Asian Shares firm in Countdown to China Data

Asian shares inched ahead on Wednesday after Wall Street got a lift from encouraging corporate earnings and investors wagered an imminent barrage of Chinese data would confirm the economy had at least stabilised. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.4 percent, on top of a jump of 1.4 percent on Tuesday. 

 

Australian shares firmed 0.4 percent, while Japan's Nikkei dithered either side of flat. All eyes were on the Chinese gross domestic product (GDP) report due at 0200 GMT. While there are some doubts about the reliability of the data, markets tend to take them on face value. 

 

The economy is forecast to have expanded by 6.7 percent in the third quarter from the year earlier, underpinned by government stimulus and a hot property market. Other data due is expected to show a slight pick-up in retail sales, industrial output and urban investment.

 

Get live News Updates visit us at http://ripplesadvisory.com/free-trial.php or One Missed Call on @9303-093093


No comments:

Post a Comment