China markets rally after disappointing industrial data

Another run of disappointing trade and inflation data out of China this week has reinforced worries about the outlook for the world's second biggest economyShanghai stocks managed to lead a regional advance on Wednesday as more Chinese figures indicating weakness in the world’s number two economy spurred hopes Beijing will unveil fresh measures to spur growth. The broadly positive mood on trading floors also helped emerging currencies recover slightly against the dollar after rallying since Friday’s US jobs data ramped up expectations the Federal Reserve will hike interest rates this year. Beijing said Wednesday that growth in output from China’s factories fell to a six-month low last month and came in below expectations — the latest in a run of disappointing data this week, following downbeat trade and inflation figures.

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