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Asian stocks were mixed as oil prices rose after the Aramco attacks

2019-09-16 06:43 am | Resource: News | No Views : 15

 Asian stocks were mixed as oil prices rose after the Aramco attacks

Shares in major East Asian markets were mixed on Monday as oil futures rallied on supply worries after Saudi Arabia said Aramco's production would halve due to recent drone attacks on its oil facilities. US President Donald Trump said he had authorized the release of the Strategic Petroleum Reserve to "maintain good market supplies."

Meanwhile, data from China showed a less-than-expected rise in retail sales and the slowest industrial growth in more than 17 years. The country's statistical office said it expects to achieve the full-year growth target, despite "growing downward pressure" and "external uncertainty".

China's retail sales are up 7.5% in August

China's retail sales of consumer goods rose 7.5% year-on-year in August to 3,389.6 billion yuan, according to the country's National Bureau of Statistics. The figure, which came in below expectations, is at its lowest level since April this year. Retail sales rose 7.6%. During the previous month,

Industrial production in China is at its slowest in more than 17 years

China's industrial production growth fell to its weakest pace in more than 17 years in August, according to the country's National Bureau of Statistics. In the midst of a protracted trade war with the United States, industrial output increased 4.4% year on year, down from 4.8% recorded in July and the slowest growth since February 2002.

Asian shares trading
  • The Nikkei 225 jumped 1.05% at 7:15 CET.
  • South Korea's Kospi rose 0.35% at 7:17 am CET.
  • The Shanghai Composite Index held steady at 7:35 am CET
  • The Shenzhen Composite rose 0.27% at 7:37 am CET.
  • Hong Kong's Hatsung Index was the only one in the negative territory, dropping 1.11% at 7:39 am CET.
  • Australia's S&P / ASX 200 rose 0.07% at 7:39 am CET.

The dollar rose 0.20% against the yen for sale at 107.8770 yen at 7:40 am CET.

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