Asian stocks rose, after posting their first weekly
advance since July, as investors awaited this week’s Federal Reserve
policy decision and weighed mixed economic reports from China.
The MSCI Asia Pacific Index added 0.3 percent to
127.69 as of 9:01 a.m. in Tokyo. China’s fixed-asset investment rose at
the slowest pace in 15 years and industrial production trailed analyst
estimates, while August retail sales topped projections, reports
published over the weekend showed. Economists are about evenly split on
whether the Fed will raise rates Sept. 17, as traders hold bets on a
move at 28 percent.
Japan’s Topix index climbed 0.3 percent, as did
South Korea’s Kospi index. Australia’s S&P/ASX 200 Index rose 0.4
percent and New Zealand’s NZX 50 Index increased 0.4 percent. Markets in
China and Hong Kong have yet to start trading.
China’s industrial output rose 6.1 percent in
August from a year earlier, the National Statistics Bureau said Sunday,
below the 6.5 percent median estimate of economists surveyed by
Bloomberg. Fixed-asset investment climbed 10.9 percent in the first
eight months, compared to a median projection of 11.2 percent. The
weaker industrial and investment figures underscore the challenge the
government faces in meeting its growth target of 7 percent this year, as
exports decline and producer price deflation deepens.
Source : Bloomberg
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