Global Shares Up on Strong Japan Data

TOKYO (AP) -- Share markets got an upbeat start to the week Monday on reports that China plans to ramp up controls of its unruly property sector, and news of stronger-than-expected manufacturing data from Japan. Attention is likely to focus this week on Friday's release of U.S. growth data, as investors adapt to expectations the Federal Reserve will hike interest rates in December.

KEEPING SCORE: Germany's DAX gained 0.8 percent to 10,976.28 and France's CAC40 was up 0.7 percent to 4,567.74. The FTSE 100 of Britain rose 0.2 percent to 7,033.76. U.S. shares looked set to rise, with Dow and S&P 500 futures up 0.5 percent.

ANALYST VIEWPOINT: "The highlight of the week will no doubt come from US 3Q GDP," Chris Weston of IG said in a commentary. "Keep in mind that growth has averaged around 1 percent in the past three quarters, so a snap back to the consensus estimate of 2.5 percent would be welcomed," he wrote. The Bureau of Economic Analysis is due to issue its preliminary reading of GDP for July-September on Friday.

CHINA PROPERTY: In a statement on its website, China's banking watchdog, the China Banking Regulatory Commission, called for stricter oversight of the real estate market and controls on risks related to industries with excess capacity and local government debts. The comments followed reports that loans to the property sector rose to over 25 trillion yuan ($3.7 trillion) by the end of September, up a whopping 25 percent from a year earlier.

JAPAN DATA: Japan posted a trade surplus of 498.3 billion yen ($4.8 billion) in September, compared with a deficit of 18.7 billion yen in August. While exports fell 6.9 percent from a year earlier, pulled lower by anemic demand for autos and machinery, that was better than the forecasts for a decline of more than 10 percent. Meanwhile, a preliminary survey of factory managers showed a fifth straight month of improvement in manufacturing sentiment and the measure for output rose for the first time since January.

ASIA'S DAY: The Shanghai Composite index led gains, adding 1.2 percent to 3,128.25, while Hong Kong's Hang Seng jumped 1 percent to 23,604.08. Japan's Nikkei 225 rose 0.3 percent to 17,234.42. South Korea's Kospi climbed 0.7 percent to 2,047.74 and India's Sensex advanced 0.4 percent to 28,191.88. Australia's S&P ASX 200 fell 0.4 percent to 5,408.50. Markets in Southeast Asia and Taiwan were mostly higher.

ENERGY: Benchmark U.S. crude fell 5 cents to $50.80 a barrel in electronic trading on the New York Mercantile Exchange. It rose 22 cents to close at $50.85 a barrel in New York on Friday. Brent crude, used to price international oils, gained 7 cents to $51.85 a barrel. It gained 40 cents Friday to close at $51.78 a barrel in London.

CURRENCIES: The dollar rose to 103.89 yen from 103.80 on Friday. The euro fell to $1.0892 from $1.0886.

(KA)