Friday, January 18, 2013
20130118 1109 Global Markets & Energy Related News.
GLOBAL MARKETS-Asian shares rise on strong U.S. data, China in focus
TOKYO, Jan 18 (Reuters) - Asian shares edged higher, tracking overnight gains in global equities markets after firm U.S. data signalled strength in the world's largest economy, lifting sentiment ahead of a batch of economic indicators from China later in the day.
"China's fourth-quarter GDP announcement expected during trading could prove a variable in today's session," said Lim Jong-pil, an analyst at Hyundai Securities in Seoul.
China Q4 GDP growth picks up to 7.9 pct yr/yr
BEIJING, Jan 18 (Reuters) - China's economy grew 7.9 percent in the fourth quarter from a year earlier with a bounce that snapped seven straight quarters of slowing expansion, official data showed on Friday.
The figures, announced by the National Bureau of Statistics, were slightly stronger than market expectations in the consensus Reuters poll of a 7.8 percent expansion.
FOREX-Yen bears rampage; China data in focus
SYDNEY, Jan 18 (Reuters) - The yen languished at two-and-a-half year lows against the dollar following a dramatic selloff as markets positioned for the Bank of Japan to take bold policy action to tackle deflation.
"We think there is some risk of disappointment at the BOJ meeting and scope for a yen rally. It is now consensus that the BOJ will move to a 2 percent inflation target. However, more aggressive measures may not come until closer to the nomination of the new governor/deputy governors in Q2," said Kiran Kowshik, strategist at BNP Paribas.
OIL-Oil rises on improving U.S. jobs, housing data
NEW YORK, Jan 17 (Reuters) - Oil rose on Thursday as financial markets got a boost from improving U.S. economic data showing jobless claims fell to a five-year low and housing starts rose sharply.
"Oil prices have risen because of broader economic optimism across the markets, which we've seen reflected in the U.S. jobless claims and housing numbers today," said Matt Smith of Summit Energy in Louisville, Kentucky.
Posted by MW Chong at 11:09 AM