ASIA STOCKS rose after China data

Hong Kong stocks climbed Friday after Chinese data showing consumer prices rose at a slower-than-expected rate in July.

Hong Kong’s Hang Seng Index  rose 0.3%, and Australia’s S&P/ASX 200  pared early losses but was still down 0.4%. The Shanghai Composite  was flat in choppy trading.

Official data released Friday showed July consumer prices in China rose 2.7%, matching the rate in June but slightly weaker than expectations. Producer prices dropped 2.3%, after witnessing a 2.7% slide in June.

Meanwhile, Japan’s Nikkei Stock Average  rose 0.6%, paring its loss for the week to about 5.4%, while South Korea’s Kospi inched up 0.2%.

Energy-sector shares gained in Hong Kong, with China Coal Energy Co. rising 2.6%, while Kunlun Energy Co. added 2.2%, also helped by Citigroup’s upgrade of the stock’s rating to buy.

In Shanghai, losses for property and financial stocks weighed on the market. Shares in Poly Real Estate Group Co. dropped 1.2%, and those in Haitong Securities Co. gave up 0.9%.

In Tokyo on Friday, shares of Mitsubishi Material Corp. climbed 7.5%, Softbank Corp. gained 1.8%, and Trend Micro Inc. added 1.4%.

On the downside, Nikon Corp.   plunged 15% after its weak fiscal first-quarter results.

In Sydney, diversified miner BHP Billiton Ltd.  gained 2%, and rival Rio Tinto Ltd.  added 1.7%, while gold company Newcrest Mining Ltd.   leapt 3.4%.

But losses in the financial and retail sectors weighed on the market, with Commonwealth Bank of Australia losing 0.5%, and Wesfarmers Ltd.   shedding 1%.

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