Market Report – Asia Markets Edge Up

And in today’s Market Report… most Asian stock markets inched higher this Tuesday, with news out of China.

Chinese economic data for July showed a mixed picture for the country. Exports were up from June, but down for the ninth straight month, and industrial output growth was below expectations.

Overall, the numbers seemed to portray the world’s No.3 economy on a recovery footing, although not as pumped as earlier in the year.

Japan’s Nikkei gained as the central bank kept interest rates on hold, saying the economic outlook remains uncertain despite signs of improvement.

A stronger yen put pressure on shares of Japanese exporters, including car giant Honda Motor, but Toshiba edged up after the company said it would join the Blu-ray Disc Association to make players by the end of the year.

Shares in Japan’s second-largest retailer, Aeon, soared after announcing it will buy Mitsubishi TV.

Australian shares gained, led by the banking sector, while resource stocks declined, as Rio Tinto investors became increasingly nervous over ties with top customer China.

(NTDTV)