China shares down on factory output data
http://www.bbc.co.uk/news/business-32716725 Version 0 of 1. Shares in China fell after a number of economic figures for the world's second largest economy came in weaker than expected. Factory output rose 5.9% in April from a year ago - below expectations - while fixed asset investment and retail sales also fell below forecasts. The Shanghai Composite fell 0.6% to 4,375.76, while Hong Kong's Hang Seng index closed down 0.6% at 27,249.28. Concerns over new share listings also dented investor confidence. Next week, a spate of initial public offerings (IPOs) could lock up some 3tn yuan ($483bn; £308bn) worth of subscription capital, according to analysts. In Japan, the Nikkei 225 ended up 0.7% at 19,764.72. Data showed Japan's current account surplus hit a seven-year high in March, rising to 2.795tn yen ($23.3bn; £14.9bn). Australian shares headed higher after the government delivered its budget on Tuesday, with promises to help small businesses among the measures to try to boost the economy. The benchmark S&P/ASX 200 index finished up 0.7% at 5,715.1 in Sydney. South Korea's Kospi index closed up 0.8% to 2,114.16 after data showed the country's unemployment rate declined in April, with more jobs created in the manufacturing and service sectors. The jobless rate stood at 3.9%, down from 4% in March and 4.6% in February, according to Statistics Korea. |