Global stocks are moving on upbeat data out of China and a dovish round of comments from U.S. Fed officials
Asian markets ended mixed, as stocks reacted to
dovish rate-hike chatter stateside. On the positive side of the ledger was China's Shanghai Composite, finishing on a modest 0.1% gain after the release of better-than-expected industrial output, retail sales, and fixed-asset investment data. Faring even better were Japan's Nikkei and South Korea's Kospi, up 0.3% and 0.4%, respectively -- with the latter getting a boost from
beaten-down Samsung shares, which rebounded over 4%.
On the other side, Hong Kong's Hang Seng dropped another 0.3%. Insurance stocks weighed on the benchmark, overshadowing outperformance in the auto sector. Traders were also spooked, as China's solid round of economic data seemed to lessen expectations that the People's Bank of China will unveil an additional round of stimulus.
In Europe, markets are modestly higher at midday, boosted by lower prospects of a U.S. interest rate hike in September. However, a sharp retreat in crude oil prices amid oversupply concerns is pressuring energy stocks. At last check, the German DAX has advanced 0.5%, London's FTSE 100 is 0.2% higher, and the French CAC 40 has edged up less than 0.1%.
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