Ja­pan, China shares fall af­ter rate rise

The Pak Banker - - I Nternational -

SINGAPORE: Shares in Ja­pan and China eased on Tues­day as con­cerns that fur­ther Chi­nese mon­e­tary tight­en­ing will cool the en­gine of world eco­nomic growth over­shad­owed Ja­panese data that pointed to im­prov­ing de­mand. The euro spiked against the dol­lar, al­though mar­ket play­ers at­trib­uted its strength to tech­ni­cal fac­tors in light hol­i­day trade, and oil edged up near a 26-month high as a snow storm in U.S. north­east un­der­pinned de­mand ex­pec­ta­tions. Data from Ja­pan showed fac­tory out­put rose for the first time in six months in Novem­ber and a sur­vey of man­u­fac­tur­ers re­vealed they ex­pected to boost pro­duc­tion in the com­ing months to meet firm de­mand from the rest of Asia. "Data in re­cent weeks have been sup­port­ive of the stocks and com­mod­ity mar­kets glob­ally," said David Co­hen, di­rec­tor of Asian eco­nomic fore­cast­ing at Ac­tion Eco­nom­ics. "The U.S. will avoid a dou­bledip. The Asian re­gion in­clud­ing Ja­pan looks a lit­tle bit bet­ter, with its in­dus­trial pro­duc­tion fi­nally show­ing an in­crease." -Ap

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