TOKYO (AP) — Asian shares moved slightly Wednesday as attention focused on key economic indicators from China that showed little change.
KEEPING SCORE: Japan’s benchmark Nikkei 225 was little changed, inching up 0.1 percent at 19,691.39. South Korea’s Kospi inched up 0.03 percent to 1,997.27. Hong Kong’s Hang Seng added 0.04 percent at 22,411.38 while the Shanghai Composite fell 0.3 percent to 3,630.28. Taiwan and Singapore markets were lower but shares were higher in Indonesia.
CHINA FACTOR: Investors were closely watching the latest indicators out of China, which showed industrial output expanded 5.6 percent year in October, down from 5.7 percent in September, and retail sales grew 11 percent in October, slightly higher than 10.9 percent for September. China’s fixed-asset investment grew 10.2 percent year on year in the first ten months of 2015, according to the National Bureau of Statistics. The growth was 0.1 percentage point slower than the expansion seen in the first three quarters.
THE QUOTE: “Market focus will be on today’s release of fixed asset investment and industrial production to gauge if there has been an interim stabilization,” says Chang Wei Liang, Singapore Treasury Division of Mizuho Bank, referring to China data, following the inflation indicator from Tuesday that suggested a need for further easing and stimulus measures.
WALL STREET: The Dow Jones industrial average rose 27.73 points, or 0.2 percent, to 17,758.21. The Standard & Poor’s 500 index added 3.14 points, or 0.2 percent, to 2,081.72. The tech-heavy Nasdaq composite gave up 12.06 points, or 0.2 percent, to 5,083.24.
ENERGY: Benchmark U.S. crude dipped 46 cents to $43.75 a barrel in New York. Brent crude, a benchmark for international oils, fell 29 cents to $47.81 a barrel in London.
CURRENCIES: The dollar slipped to 123.00 yen from 123.19 yen. The euro rose to $1.0746 from $1.0721.
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AP Markets Writer Marley Jay in New York contributed to this report. Follow him at twitter.com/MarleyJayAP
Follow Yuri Kageyama at twitter.com/yurikageyama
Her work can be found at http://bigstory.ap.org/content/yuri-kageyama
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