Asian stocks up despite disappointing China factory data

BEIJING (AP) — Asian stock markets rose Monday despite disappointing Chinese factory data and last week's Wall Street decline.

Government data on April factory output were weaker than expected, fueling concern a possible economic rebound supported by government stimulus might be faltering.

Weakness in retail sales, factory output and credit growth "all suggest that we are not about to see a stimulus-led improvement in China's GDP growth as markets had been hoping earlier in the year," said Spooner.

Companies that make clothing, food and household goods dropped on more bad news from retailers, and energy companies fell with the price of oil.

Bond prices jumped and yields fell, which hurt bank stocks and prompted suggestions that with investors worried about weak profits and the health of the global economy, the latest rally has run its course.