HONG KONG (MarketWatch) — China data will take center stage in Asia during the week ahead, as investors look to inflation and economic growth figures for clues to the underlying direction of the world’s fastest-growing major economy.
The spotlight will also be shared by Anglo-Australian mining giants Rio Tinto /quotes/comstock/13*!rio/quotes/nls/rio (RIO 71.05, -0.06, -0.08%) /quotes/comstock/22x!e:rio (AU:RIO 87.53, +0.48, +0.55%) and BHP Billiton /quotes/comstock/13*!bhp/quotes/nls/bhp (BHP 90.56, -0.13, -0.14%) /quotes/comstock/22x!e:bhp (AU:BHP 45.85, -0.20, -0.43%) , which are due to release quarterly production reports.
Thursday will be key for China watchers, with figures for consumer and wholesale inflation for December set to round out the inflation picture for the full year.
Consumer prices in November rose 5.1% from a year earlier, the fastest pace of gains in more than two years, fueling worries that prices could be edging beyond levels the government deems acceptable. In the January-through-November period, the consumer price index rose 3.2% from a year earlier, exceeding the government’s full-year target of 3%.
The CPI likely rose by 3.5% or less for the year, according to Yao Jingyuan, chief economist for the China’s National Bureau of Statistics, cited in a report by the state-run People’s Daily on Thursday. more ...
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