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Fundamental News Summary

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Asian Session News Summary

Wed, Nov 4 2009, 05:12 GMT
by ecPulse.com analysis team

ecPulse.com


Retail sales in Australia declined

Retail sales in Australia fell 0.2% in September following an incline by 0.9% in August that was revised to 0.7% and it was expected to jump 0.5%. Retail sales excluding inflation declined 0.4% in the third quarter of this year after previous revised 1.9% from 2.0%, while forecasts referred to -0.5%.

Today's report showed that spending at department stores fell 2.9% in September, while clothing sales slipped 0.9%. On the other hand, spending at restaurants jumped 1%.

Rising building approvals in Australia

Monthly building approvals in Australia jumped 2.7% in September compared with a prior revised -0.9% from -0.1%, while it was expected to gain 2.3%. Building approvals inclined 11.7%% in September from a year earlier from a previous 0.0% that was revised to 0.4% and it was anticipated to climb 8.2%.

The Australian government's grants for first time buyers helped to spur demand in the property market, worth mentioning that hour prices inclined 8.4% in the first half of this year.

Hong Kong's PMI rose in October

Hong Kong's purchasing managers index rose to 54.6 in October compared with 51.8 in September to record the third straight reading above 50, worth mentioning that a reading above 50 means expansion.

Published on  Wed, Nov 4 2009, 05:13 GMT


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