Asian stocks had increased which marked an extended rally for the benchmark gauge this year. Emerging market currencies had also extended gains before Chinese factory output and retail sales data. Crude oil slipped in Asia and soybean futures retreated. This was according to a Bloomberg report.
The MSCI Asia Pacific Index rose to 0.6% by 9:28 am in Tokyo today. This marked the ninth day of the longest stretch of gains since December of last year. Standard & Poor's 500 Index futures added 0.1% while South Korea's won moved to a six-month high versus the US dollar. The Malaysian ringgit and Thai baht also rose by 0.4%. The Indian rupee had also climbed against the dollar. West Texas Intermediate oil dropped 0.9% while soybean futures lost 1%.
The industrial production and retail sales of China would probably add signs of stabilization to the world's second biggest economy. This was shown in a report today adding that the factory output was projected to have grown at its fastest pace this year in August.
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