Fresh China data raises hopes of recovery

<p>Fresh data out of China may allay fears of a major economic slowdown.</p>

Fresh data to come out of China could help alleviate some of the concerns the world's second-largest economy's once bullish pace of growth is slowing down.

Industrial production, retail sales and fixed-asset investment all increased by more than anticipated last month compared to the same time a year earlier.

Factory activity was higher by 9.6 per cent, while retail sales rallied by 14.5 per cent – indicating domestic demand is proving resilient.

At the same time, inflation has dropped, giving policymakers in Beijing more room for manoeuvre in employing stimulus measures to support growth.

Beijing is desperately trying to offset the decline in export demand as a result of financial crises in key trading partners the US and Europe.

As the major Asia Pacific benchmarks near the end of the day's trading at 07:55 GMT today (November 9th), the Hong Kong Hang Seng was lower by almost one per cent to 21352.5 points.

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