Forex Mini Account – Most Asian stocks rose before data on Chinese industrial output and retail sales. Brent crude oil extended its decline below $80 a barrel and gold dropped.
Almost five stocks gained for every three that fell on the MSCI Asia Pacific Index (MXAP) by 10:47 a.m. in Tokyo as gains in Japan and Seoul offset losses in Sydney. The Hang Seng Index fluctuated as Tencent Holdings Ltd. (700), China’s biggest online messaging operator, fell after missing earnings estimates. Standard & Poor’s 500 Index futures were little changed after the gauge slipped from a record. Oil dropped amid concern OPEC won’t cut output to ease a global glut. Gold and silver fell at least 0.3 percent.
Growth in Chinese retail sales and industrial output probably held steady in October, economists say, with factory data also due from Japan today as South Korea and Indonesia review interest rates. Japanese markets have been roiled this week as reports Prime Minister Shinzo Abe will call a snap election and postpone an increase in the sales tax were downplayed by local officials. Germany reports on inflation today before data on euro-area prices and growth tomorrow.
Source : Bloomberg.com