Asian Shares Rise After Strong China Data, Syrian Tensions Ease

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Asian stocks rose after strong data from China and easier Syria tensions. Japan's Nikkei hit a one-month high, while Shanghai and Korea rose to a three-month high.

Chinese industrial output rose 10.4% from a year ago, topping Reuters forecasts for a 9.9% rise. Retail sales climbed an annual 13.4% and fixed asset investment grew 20.3% year-on-year from January to August, both slightly above estimates.

Meanwhile, Russia asked Syria to put its chemical weapons under international control to avoid a military strike.

In the US, investors also saw signs that the Fed may not yet start to taper its bond buying program. San Francisco Federal Reserve Bank President John Williams said on Monday he hasn't made up his mind yet over whether to support a reduction in the Fed bond purchases.

In ADR news, JA Solar Holdings Co. ( JASO ) said it will supply 96 MW of solar modules to CPI Huanghe Hydropower Development, a unit of China Power Investment Corporation, for use on two solar projects in China's Qinghai Province. Delivery of the modules has already commenced and will be completed later this month. The projects are expected to commence commercial operations by October this year.

The Nikkei ended up 1.54% at 14,423.36, the Hang Seng up 0.99% at 22,976.65 and the Straits Times up 1.16% at 3,123.89.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities


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