Asian stock indices mixed with negative bias
Mihir Kapadia – CEO and Founder of Sun Global Investments
Asian indices are mixed in overnight trading with a slight negative bias. Japan's Nikkei Stock Average and the Shanghai Composite Index are about 0.4 per cent lower as is the Hang Seng. Korean Indices are about 0.8 per cent higher.
Data in China showed industrial activity growing, but the pace has been lesser than expected. Industrial output growth in China slowed for a second straight month in August as output rose by 6.0 per cent in August, compared with a 6.4 per cent increase in July. This was below the forecast of 6.6 per cent growth. Looking into the numbers in detail, the data for fixed-asset investment which is key proxy for construction activity rose 7.8 per cent, lower than expectations of 8.2 per cent.