Tokyo stocks trade mixed after disappointing China data
16 May 2016
- From the section Business
Japanese stock markets rose in early trade, shrugging off disappointing economic data released by China over the weekend.
The Nikkei 225 index rose 0.4%, while the broader Topix gained 0.1%.
China’s industrial output, retail sales and fixed asset investment all grew more slowly than expected in April, indicating the economy remains weak.
Australia’s benchmark ASX/200 lost 0.1% and South Korea’s Kospi index fell 0.2% at the open on Monday.
China’s National Bureau of Statistics said on Saturday that industrial output rose 6% year-over-year in April, compared with 6.8% growth the month earlier.
Fixed-asset investment grew by 10.5% in the January-to-April period, compared an increase of 10.7% the year before.
Retail sales grew by 10.1% in April from a year earlier. They all missed market expectations.
Vishnu Varathan from Mizuho bank said the activity data raises concerns about China’s renewed slowdown and “exacerbates woes about global demand deficiency”.
Source: BBC Business