CANADA STOCKS-TSX may open higher after strong Chinese data
June 14 (Reuters) - Toronto's resource-heavy main stock index looked set to open higher on Tuesday after economic data out of China drew investors into equity markets and pushed commodities higher.
China's inflation accelerated in May to a 34-month high of 5.5 percent, while retail sales came in marginally higher than forecast. Although a little above expectations, the inflation data suggested Chinese price rises were not out of control and that growth was being managed. [MKTS/GLOB]
FACTORS TO WATCH
* Canadian equity futures <0#SXF:> pointed to a higher open.
* U.S. stock index futures rose after economic data out of China drew investors into an equities market that had become oversold from a technical perspective after six weeks of sharp declines. [.N]
* European shares rose in morning trade after a raft of Chinese data suggested that growth in the world's second-biggest economy was not slowing down too quickly, prompting investors to buy riskier assets. [.EU]
* Markets in Asia were largely high but Hong Kong shares ended lower as market players pared long positions after China announced a sixth hike in banks' reserve requirements this year to drain excess liquidity and tame inflation.
COMMODITY PRICE MOVES
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.01 percent in early trade. Continued...