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Markets are higher early in the Asian trading session.Japan’s Nikkei is 0.3%.
Korea’s Kospi is up 0.4%.
Australia’s S&P/ASX is up 0.4%.
Over the weekend, China’s National Bureau of Statistic released a slew of economic data that confirmed the economy was heating up. Industrial production and retail sales both beat expectations in November. Meanwhile, inflation heat up a bit, but was lower than expected.
“WIth rebounding GDP growth, rebounding earning growth and low inflation, we could claim that the Chinese economy is now in a sweet spot and can stay in the sweet spot through 1H13,” wrote Bank of America Merrill Lynch economist in a note to clients.
Asian markets are also catching up after surprisingly good U.S. jobs data. The unemployment rate unexpectedly fell to 7.7 per cent in November as companies added 145k jobs, which was higher than the 85k expected.
U.S. futures are a tad higher. Dow futures are up 17 points and S&P 500 futures are up 2 points.