Japan's October IP slightly rose

Japan's Industrial Production for the month of October on month on month basis rose modestly from that of September's 1.1, which came at 1.4, and less than the consensus expectations of 1.8.

On year on year basis, the industrial production of the country was expected to be -0.9, while for previous month it was -0.8, which came almost similar. The country's growth was in negative for two consecutive quarters and China's uncertainty was also causing trouble.

"If the production survey were revised up from - 0.3% mom for November and December to show positive growth, we could probably judgethat production has avoided a downturn", says Societe Generale in a research note.