Asian markets rose after China’s August activity data largely beat expectations.
Asia-Pacific markets rose on the back of China’s August economic data, which was mostly better than market expectations.
China’s August retail sales and factory production beat expectations, but pressure on fixed asset investment came in slightly below expectations. In August, house prices decreased by 0.1 percent compared to the previous year.
Hong Kong’s Hang Seng index rebounded after the announcement, rising 1.3 percent, while mainland markets also rose, with the CSI 300 marginally higher.
In Japan, the Nikkei 225 rose 1.34 percent, while the Topix continued to push 33-year highs with a 1.25 percent gain. Most importantly, Softbank’s shares rose more than 3 percent after Arm, the chip design firm it controls, jumped nearly 25 percent on its Nasdaq debut.
In Australia, the S&P/ASX 200 rose 1.8 percent. South Korea’s Kospi rose by 1.15 percent, while the Kosdaq rose marginally.