Asian markets rise led by China GDP and industrial production

By FXstreet.com | January 17, 2013 AAA

FXstreet.com (Barcelona) - Better than expected GDP and industrial production figures released today in China helped setting the mood straight so that Asian equity indexes could rise on Friday. China's Shanghai Composite (+1.41%), South Korea's Kospi (+0.69%), Hong Kong's Hang Seng (+1.05%), and Australia's S&P/ASX 200 (+0.31%) retraced yesterday's gains and pushed higher.



China's annualized GDP in Q4 rose from 7.4% to 7.9%, beating the 7.8% consensus. Industrial production also came in higher, from 10.1% to 10.3%, as well as retail sales, from 14.9% to 15.2%.



Japan's Nikkei Stock Average continues on its roll, up for the 10th week in a row, gaining 2.86% today after PM Abe's economic adviser Hamada suggesting that the line in the sand had been drawn at 110, while 95-100 was "nothing to worry about".



Futures for the German DAX 30 (+0.16%) and the French CAC 40 (+0.05%) are signaling a higher opening ahead of a light European economic calendar, with Italy industrial orders and UK retail sales. WTI crude oil trades at $96.00 (+0.07%) and Gold trades at $1693 (+0.35%).



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