Market Report – China Output Expands

In today’s market report… Chinese industrial output, investment and credit expanded faster than expected in August, while Japan lowered its quarterly growth slightly.

Despite the expansion in industrial output, China’s export growth fell 20 percent on year in August. One Beijing official says economic fundamentals in the country are not solid.

In Japan, the government revised down the growth in the last quarter to 0.6 percent from 0.9 percent due to a fall in inventories. The nation’s economic minister says the inventory fall showed a lack of full recovery.

Market-watchers say the yen’s appreciation weighed on the Nikkei and exporters like Toyota.

Elsewhere, Metallurgical Corp of China has raised more than $5 billion in its IPO. The company is set to list on the Shanghai and Hong Kong markets later this month.

(NTDTV)