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Asia stocks subdued ahead of China data, Gulf attacks support oil


Added 06-14-19 12:03:01am EST - “Asian stocks were subdued on Friday ahead of key Chinese data that could provide...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Asia stocks subdued ahead of China data, Gulf attacks support oil”. Below is an excerpt from the article.

TOKYO (Reuters) - Asian stocks were subdued on Friday ahead of key Chinese data that could provide more clues on how heavily the U.S.-Sino trade war is weighing on the economy, while oil prices were supported by supply concerns after attacks on tankers in the Gulf of Oman.

China will release May industrial production along with retail sales and investment numbers at 0700 GMT.

Economists polled by Reuters expect industrial production in China to have risen 5.5% in May from 5.4% in April and believe retail sales increased 8.1% from 7.2% the previous month.

But even if the data is better than forecast, expectations of more stimulus in China are growing as the trade dispute threatens to escalate into a full-blown trade war that could push the global economy into recession.

For the week, it was headed for a gain of nearly 1%, as global stock markets were lifted by factors including expectations for Federal Reserve rate cuts and relief over a U.S.-Mexico tariff deal.

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