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Asian markets are mixed with a focus on Brexit

2019-03-14 07:40 am | Resource: News | No Views : 92

 Markets in East Asia mixed on Thursday as investors focused on Britain's exit from the European Union. Yesterday, the British parliament rejected Britain's exit from the EU without a deal. Today, a vote is to be taken on the extension of Article 50 and a three-month postponement of the withdrawal so that it can be negotiated.

Meanwhile, China's industrial output rose 5.3% in February, with retail sales increasing by 8.2% the previous month. Yesterday, US President Donald Trump said Washington was "doing well" in trade negotiations with China.

China's retail sales rose 8.2% year-on-year in January

China's retail sales rose 8.2 percent year-on-year in January, rising to 660.64 billion yuan ($ 9851 billion), according to a statement by the country's National Bureau of Statistics. The data were consistent with the consensus of market observers. At the same time, national online retail sales saw an increase of 13.6% year-on-year.

Urban sales rose 8.0% year-on-year, with sales to rural consumers jumping 9.1% in the same timeframe. Sales of catering services rose by 9.7% compared to the same month last year, while retail sales of goods rose by 8%. From January to February, retail trade in goods rose 3.2%.

Industrial production in China rose 5.3% year-on-year in February

China's industrial production grew 5.3 percent in February from the same month a year earlier, according to a report by the National Bureau of Statistics. The value added of the mining industry rose by 0.3% year on year, while the manufacturing industry grew by 5.6%. Production and supply of electricity, heating, gas and water increased by 6.8% year-on-year.

Meanwhile, the state-owned enterprises' holdings rose 4.4% in February from a year earlier, the shareholding companies increased 6.4%, and foreign-invested companies from Hong Kong, Macao and Taiwan saw their production drop by 0.3%, while private companies had an increase In production by 8.3%.

Asian stocks closed
  • The Nikkei 225 was flat at closing.
  • Seoul's Cosby Composite Index rose 0.34% at 7:31 am CET.
  • China's benchmark fell, with the Shanghai Composite and Shenzhen Composite shedding 1.45% and 2.08% respectively, at 7:51 am CET.
  • Hong Kong Hang Seng has not changed much at the same time.
  • In Australia, the S & P / ASX 200 rose 0.30% at 6:44 CET.

The greenback was up 0.38% against the yen at 7:54 CET, recording 111.5990 yen.

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