Asian stocks crept up on Tuesday as investors took solace from data showing the Chinese economy grew slightly more than expected in the third quarter, calming fears of a deepening slowdown in the world's second-largest economy.China's economy grew 7.3 per cent between July and September from a year earlier, slightly above expectations. But it slowed from 7.5 per cent in the second quarter, the weakest in nearly six years. "By and large, (it was) an impressive reading showing resilience of the Chinese economy. It also shows that we don't need to be that concerned about the depth of slow down in China," said Dariusz Kowalczyk at Credit Agricole Corporate and Investment Bank in Hong Kong.
Other data showed factory output rose 8.0 per cent in September from a year earlier, beating expectations for a 7.5 per cent increase and up from August's six-year low of 6.9 percent. However, fixed asset investment and retail sales figures were weaker than expected, suggesting that Beijing still has reason to announce a fresh round of economic support measures.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment