BEIJING (AP) – Global stocks were mostly higher Thursday after Japan reported a surprise rise in machinery orders as investors looked ahead to the latest U.S. employment and retail sales data.
KEEPING SCORE: Germany’s DAX rose 1 percent to 9,300.33 and France’s CAC-40 gained 0.9 percent to 4,216.07. Britain’s FTSE 100 rose 0.3 percent to 6,631.50. Wall Street was set for gains after Wednesday breaking a five day streak of record highs with a slight decline. Dow futures were up 0.2 percent to 17,617 and S&P 500 futures gained 0.3 percent to 2,041.10.
JAPAN DATA: Machinery orders rose in October in a sign of growing investment. Excluding shipbuilding and electricity, orders rose 2.9 percent over the previous month, defying predictions of a decline. The data is a positive sign for Japan’s economy, which has struggled to bounce back from a sales tax hike in April.
THE QUOTE: In Japan, “capital spending should start to recover soon,” said Marcel Thieliant of Capital Economics in a report. With the Shoko Chukin survey showing capacity usage at small firms at its highest since 2009, he said, “this measure points to a solid expansion in spending on machinery and equipment.”
ASIA’S DAY: Tokyo’s Nikkei 225 gained 1.1 percent to 17,392.79 while China’s Shanghai Composite Index fell 0.4 percent to 2,485.61. Hong Kong’s Hang Seng rose 0.3 percent to 24,019.94. Taiwan and Singapore rose while India and Seoul fell.