Investing.com - Asian stocks were seen broadly higher in
Friday's session after a couple of concerning economic data points
out of Japan buoyed hopes that the world's third-largest economy
would continue to engage in aggressive monetary easing.
In Asian trading, Japan's Nikkei 225 was higher by 0.69%. Hong
Kong's Hang Seng add 0.05% while the Shanghai Composite jumped
In Japanese economic news, the government reported that consumer
prices excluding fresh food, fell 0.1% in November. That number was
inline with what economists expected, but it also spurred
speculation that Prime Minister Abe could prove successful in
forcing the Bank of Japan to alter its inflation target.
Another government reported showed Japan's industrial output slid
1.7% in November to the lowest since 2011 natural disasters that
ravaged the country. The slump in industrial production could be
another sign that Abe will be able to force BoJ to engage in
unlimited monetary easing.
The ensuing easing speculation sent the Nikkei to a 21-month high
and the yen to lowest levels against the U.S. dollar since August
2010. The Japanese currency also fell to its lowest levels against
the euro since July 2011.
South Korea's Kospi rose 0.31% after the Korea National Statistical
Office said that South Korean industrial production rose to a
seasonally adjusted annual rate of 2.3%, from 0.6% in the preceding
month. Analysts had expected South Korean industrial production to
rise 0.7% last month.
In other South Korean economic news, the Korea National Statistical
Office said that South Korean Retail Sales rose to a seasonally
adjusted annual rate of 2.3%, from -0.9% in the preceding month
whose figure was revised down from -0.8%. Analysts had expected
South Korean Retail Sales to rise 0.3% last month.
Today is the final trading day of 2012 for stocks in South Korea,
Taiwan, Thailand, Indonesia, the Philippines and Vietnam.
Elsewhere, Australia's S&P/ASX 200 Index jumped 0.5% while New
Zealand's NZSE 50 added 0.38%.
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