La economía de China crecio mas de lo anticipado o 7.5% en el segundo trimestre.
Asia Stocks, Aussie Hold Gains on China GDP Expansion
By Pratish Narayanan & Emma O’Brien - Jul 14, 2013 10:14 PM ET
Asian stocks and the Australian dollar held gains after China’s economy grew in line with forecasts and the government opened markets wider to foreign investors. Gold and other precious metals rallied.
The MSCI Asia Pacific Index excluding Japan Index rose 0.15 percent at 10:05 a.m. in Hong Kong. Gold climbed 0.5 percent, extending its biggest weekly jump since 2011, as palladium headed for a one-month high. The so-called Aussie strengthened 0.4 percent after sliding to the weakest level since August 2010 on July 12. Futures (SPA) on the Standard & Poor’s 500 Index advanced 0.2 percent after the gauge reached a record on July 12. Crude dropped 0.3 percent and corn futures sank.
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One-kilogram gold bars are arranged for a photograph at a Tanaka Kikinzoku Kogyo K.K. store in Tokyo. Photographer: Junko Kimura/Bloomberg
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July 4 (Bloomberg) -- Dominic Schnider, head of commodities research at UBS AG’s wealth-management unit in Singapore, talks about the outlook for crude oil and gold. He speaks with Rishaad Salamat on Bloomberg Television's "First Up." (Source: Bloomberg)
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July 2 (Bloomberg) -- Scott Carter, chief executive officer of Lear Capital, talks about the outlook for gold prices and his investment strategy for the precious metal. He speaks with Deirdre Bolton on Bloomberg Television's "Money Moves." (Source: Bloomberg)
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Visitors walk up a set of steps in front of the Sydney Opera House in Sydney, Australia. Photographer: Brendon Thorne/Bloomberg
China’s economy expanded 7.5 percent in the three months to June 30, matching forecasts in a Bloomberg survey of economists. A government decision to almost double investment quotas for the qualified foreign institutional investors program to $150 billion supported markets. Federal Reserve Chairman Ben S. Bernanke said last week that the U.S. would need accommodative monetary policy for the foreseeable future.
China’s policy makers “are trying to support the market,” said David Poh, who helps oversee $113 billion as the regional head of portfolio-management solutions at Societe Generale’s private bank, before the data release. Any positive effects may be limited as investors are still concerned over the risk of corporate failures in industries such as shipbuilding, he said.
MSCI’s Asia Pacific index of regional stocks rallied 2.7 percent last week, the most since the end of April, and an MSCI gauge of global equities climbed 3.4 percent after Bernanke’s comments, which were made July 10.
Gold Rises
Hedge funds raised bets on higher gold prices for a second week as Bernanke’s comments damped expectations stimulus will be cut soon. Net long positions on the metal rose by 4.1 percent, U.S. Commodity Futures Trading Commission data for July 9 showed. Gold surged 5.1 percent last week. Retail sales probably rose at a faster pace in June and the U.S. housing market strengthened, economists forecast before reports this week.
“The continuing theme for gold and metals in general is Bernanke indicating a more accommodative monetary stance,” said Gavin Wendt, founder of Mine Life Pty, a mining and resources researcher in Sydney. “China can’t really grow at 9 to 10 percent every year. Growth now is coming off a very high base, but it’s more sustainable.”
Silver rose 0.3 percent, while palladium gained 0.6 percent, poised for the highest close since June 14. Platinum climbed 0.3 percent, set for the highest close since June 19. Zinc, nickel, aluminum and lead for three-month delivery fell on the London Metal Exchange, as tin rose 0.3 percent. Copper futures lost 0.5 percent.
Contracts on corn due in December retreated 0.9 percent amid warmer, drier U.S. weather. Wheat futures sank 0.9 percent as well.