Asian shares rallied on the final trading day of the week, as investors awaited the latest batch of Chinese data for further trading cues. Chinese January consumer inflation and producer prices are due around 9:30am SIN/HK; analysts expect annual inflation will edge lower from Decembers 2.5 percent reading. U.S. stocks bounced back mid-session Thursday to close higher despite weak data. Applications for unemployment benefits were higher-than-expected last week while retail sales fell 0.4 percent from December. Nikkei 0.6% higher. Japanese stocks enjoyed a rebound following Thursdays near 2 percent decline after finance minister Akira Amari said the majority of the governments $53 billion stimulus package will be implemented by the end of June. Kospi rises 0.6%. South Korean shares traded within sight of the previous days three-week high thanks to strong gains in automakers; Hyundai Motor and Kia Motors rose over 1 percent each. -CNBC
Posted on: Fri, 14 Feb 2014 01:12:21 +0000
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