China lifts market on first positive retail sales report

Asia stocks edged higher in early Tuesday trading buoyed by a positive Chinese retail report. According to China’s National Bureau of Statistics, retail sales rose 0.5% in August from a year ago, recording the first positive rise in 2020.

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China also reported a rise of 5.6% in industrial production from a year ago. While Asia stocks moved higher, moves were subdued as retail sales for the country for the first eight months of the year was still down 8.6%.

The positive tones also helped to lift global stock indices. Although a weakening dollar throughout the session also helped provide some support. Traders will now be focused on Wedensday’s FOMC Press Conference and the next actions from the US Federal Reserve.

How to trade the China A50 Index with Admiral Markets UK Ltd

If you are feeling bullish or bearish on the price of the China A50 Index or other instruments, you can speculate on its price direction using CFDs. To get started, follow these five simple steps:

1. Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
2. Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
3. Type in China50, or another instrument, at the bottom of the Market Watch search box and then drag the symbol onto the chart.
4. Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
5. Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.

Source: Admiral Markets MetaTrader 5 Web, China50_U0, Weekly – Data range: Feb 9, 2014, to September 15, 2020, performed on September 15, 2020, at 7:09 am BST. Please note: Past performance is not a reliable indicator of future results.

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