China Output Data in Focus as Asian Futures Climb

Asian stock-index futures rose, indicating the benchmark gauge may extend its longest rally this year, before Chinese factory output and retail sales data. The yen held declines and crude oil slipped a second day.

Nikkei 225 Stock Average futures were bid at 14,320 in the Osaka pre-market, from 14,325 in Chicago and 14,220 in Japan yesterday, while contracts on Australian shares climbed 0.2 percent. Standard & Poor’s 500 Index (SPX) futures gained 0.1 percent after the gauge increased 1 percent in New York. The yen was little changed at 99.70 per dollar after slipping 0.5 percent yesterday and rupee forwards climbed. West Texas Intermediate oil sank 0.9 percent, while platinum and palladium rose.

Chinese industrial production and retail sales reports today will probably add to signs the world’s second-largest economy is rebounding, with factory output projected to have grown at the fastest pace this year in August, according to a Bloomberg survey. The Bank of Japan also issues minutes of last month’s meeting. The MSCI Asia Pacific Index climbed an eighth day yesterday to an almost four-week high. Crude fell amid prospects Russia may get Syria to give up its chemical weapons.


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