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Output, Retail Sales Data push China Stocks to Four-Week High

China’s stocks rose, driving the Shanghai Composite Index (SHCOMP) to a four-week high, after factory output and retail sales data beat economist estimates.

The Shanghai Composite Index added 0.6 percent to 2,073.73 as of 10:32 a.m. local time, with trading volumes for this time of day exceeding the 30-day average by 92 percent, data compiled by Bloomberg show. Bank of Nanjing Co. advanced 3.2 percent after BNP Paribas SA increased its stake. Zoomlion Heavy Industry Science & Technology Co. climbed 1.2 percent, pacing gains among industrial shares.

Stocks rose even as customs data today showed exports expanded a lower-than-estimated 2.9 percent in November from a year earlier. Industrial production climbed 10.1 percent last month, while retail sales grew 14.9 percent, the statistics bureau said yesterday. Economists in a Bloomberg survey had a median estimate of 9.8 percent growth in industrial production and a 14.6 percent increase in retail sales.

via Bloomberg [1]

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