China Lifts Market On First Positive Retail Sales Report

Access To Financial Markets Made Easy • Sep 15, 2020 at 3:38 AM EDT

China reported a rise of 5.6% in industrial production from a year ago. While Asia stocks moved higher, moves were subdued as retail sales for the country for the first eight months of the year was still down 8.6%.

Asia stocks edged higher in early Tuesday trading buoyed by a positive Chinese retail report. According to China's National Bureau of Statistics, retail sales rose 0.5% in August from a year ago, recording the first positive rise in 2020.

China lifts market on first positive retail sales report

China also reported a rise of 5.6% in industrial production from a year ago. While Asia stocks moved higher, moves were subdued as retail sales for the country for the first eight months of the year was still down 8.6%.

The positive tones also helped to lift global stock indices. Although a weakening dollar throughout the session also helped provide some support. Traders will now be focused on Wednesday's FOMC Press Conference and the next actions from the US Federal Reserve.

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