Press "Enter" to skip to content

Chinese stocks jump on good industrial production and retail sales reports

The stocks of mainland China had seen a jump as they closed on the afternoon of Monday as there was data which showed that the industrial output of the country as well as the retail sales saw a rise for the month of November and that rise was more than the expectations.

The industrial production of the Asian giant saw a rise year-on-year of 6.2 % in the month of November as per the Statistics bureau of China which is above the forecast which was made at 5%. The retail sales also saw a rise of 8% which was more than the forecasted 7.6%.

The reaction to the agreement of the phase one deal in China was mixed in the Asian markets after the announcement was made regarding the same.

The trade representative of United States, Robert Lighthizer had said this Sunday that the deal between the two countries was completely done on Friday and it is going to double the amount of exports from Untied States to China in the coming two years.

The officials of the two countries on Friday had announced that these countries had reached an agreement after a war which had lasted for 18 months. China had made an agreement of purchasing the agricultural goods from the United States while the Trump administration made a vow to not enforce another set of tariffs which had been scheduled to take place on this Sunday.  The economies are looking at signing this deal in the early days of the month of January.

The stocks in United States too stayed stable on Friday after the trade developments took place as the analysts advised caution on the news.

Kelly Rivera
Kelly Rivera Author
Lead Editor At Global Newspaper 24

Kelly has been one of the most knowledgeable personalities in the Global Newspaper 24’s Business section team. While she has completed MBA in Finance Degree, she has always demonstrated her core knowledge in business management and affection toward the freedom of expression through words by crafting superlative news reports for all the readers of the Global Newspaper 24 platform. At present, Kelly works as the Head of the Business Department and is responsible for checking all the news reports for readability while adhering to the quality standards of Global Newspaper 24. Kelly is a super-active personality that loves to write news reports on various topics such as mergers & acquisitions, latest product launches, and major business events.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *