09 Sep '11, 4am

Asian shares rise on China data

HONG KONG: Asian shares were mostly up in edgy trade on Friday after Chinese inflation eased last month as dealers gave a muted response to a US plan to boost jobs in the world's biggest economy. But general sentiment was weighed by news that Japan's economy shrank more than first thought in the April-June quarter, while eurozone growth forecasts were slashed due to concerns over the ongoing debt crisis. Tokyo was flat by the break, Hong Kong gained 0.11 percent, Shanghai was 0.78 percent higher, Sydney added 0.91 percent and Taipei was up 1.13 percent but Seoul dipped 0.41 percent. China said consumer prices rose 6.2 percent year on year in August, down from July's three-year high of 6.5 percent. The figures provided some respite over inflation -- which the government has been struggling to tame -- but analysts warned it was likely to stay high for some time. Investors fe...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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