Strong production data helped lift mining stocks in Sydney, with shares of BHP Billiton Ltd. rising 0.8% after its iron-ore output surged 22% in October-December.
The aircraftmakers' confidence about the emerging world is based on what appears to be an iron law of aviation: rising numbers of urban middle-class people will mean rising demand for air travel, whatever short-term blips the economy suffers.
By the same token, the prices of several commodities that are not traded on any exchanges, such as iron ore and rice, have been rising almost as fast as that of oil.
The rising cost of imports added significantly to the overall figures, as iron ore imports were up 83 percent in value during the quarter, with soybeans up 25 percent, crude oil up 39 percent, and metal-cutting machinery up 72 percent in value.