After many days of losses, the Asian stock markets recorded an albeit timid progress, apart from Shanghai, which celebrated (on the contrary) the closing of the great meeting which sanctioned – it happens only once every ten years – the passage of the Chinese leadership . The regional index was up 3% at 0,3pm Tokyo time after dropping nearly 4% over four days of uninterrupted decline. Highlights were financial companies, whose gains offset the losses of shares linked to primary sectors.
In China, the prognosis for the real economy is cautiously favourable. There are signs of the end of the slowdown and the beginning of a recovery both in retail sales and in electricity consumption, industrial production and exports.
The euro is above 1,27 and the yen is little changed, on 79 and something. Oil does not move away from 85, the fat American stocks weigh. Wall Street futures point to positive opens.
http://www.bloomberg.com/news/2012-11-14/asian-stocks-little-changed-as-china-congress-closes.html
