Asian stocks rise on China's better-then-expected data

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Source: Bloomberg
© Scanpix/Reuters
Asian stocks advanced, prolonging the rally in the benchmark index, as China posted better-than-expected industrial production and retail sales data, reinforcing the view the world's second largest economy is recovering. The MSCI Asia Pacific Index rose 1.1% to 137.11, heading for the highest level since July 23. Japan's Topix gained 1.5%, while South Korea's Kospi and Australia's S&P/ASX 200 added 1% and 0.4, respectively. 
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Tue, 10 Sep 2013 08:22:04 GMT

France's industrial output unexpectedly drops in July

French industrial production unexpectedly declined 0.6% month-on-month in July, after dropping 1.4% a month earlier, according to INSEE. Analysts expected an increase of 0.5% for the reported timeframe. Manufacturing output decreased 0.7%, after contracting 0.4% in June, whereas a 0.7% rise was forecasted. That translated to industrial output and manufacturing production falling on an annual basis 1.8% and 2.5%, respectively.

Tue, 10 Sep 2013 08:00:04 GMT

Double-bottom base suggests that Aussie may reach 93.07

According to trading patterns, it seems that the worst might be over for Australia's Dollar after losing 9.5% for the six months, as the central bank moves towards the end of the interest-rate cutting cycle, while the Chinese economy is rebounding. The Aussie might rise toward 93.07 U.S. cents if it breaches key resistance levels.

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