adminBANGKOK. — Signs that a slowdown in China may be bottoming out helped to lift Asian stock markets last Friday. Producer prices, or the price of goods once they leave factories, fell in July but at a slower rate than the month before. That was taken as a sign that demand may be strengthening following a prolonged slump. Industrial production and retail sales figures for July will be released later in the day, and analysts are expecting to see steady or slightly improved numbers. Consumer price inflation, meanwhile, was stable.
“Firmer and higher than expected activity numbers, combined with stable and lower than anticipated price pressures, would be positive for sentiment” in China and other emerging markets, analysts at Credit Agricole CIB in Hong Kong said in a market commentary.
Last Thursday, customs data showed Chinese exports and imports both increased in July, beating expectations and easing concerns over the slowdown that has dragged down growth in the world’s second-biggest economy to a two-decade low.
Japan’s Nikkei 225 index rose 0,6 percent to 13 687,44. South Korea’s Kospi advanced 0,1 percent to 1 886,23. Hong Kong’s Hang Seng gained 0,4 percent to 21 741,04. Australia’s S&P/ASX 200 fell 0,3 percent to 5 049,40, dragging down by losses in the banking sector. — AFP.
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