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Asian markets recover after China's GDP growth does not meet already low expectations



Asian markets recovered from early losses Monday, when China had its weakest quarterly GDP growth for at least 27 years.

Data on Monday showed that the world's second largest economy expanded by 6.2% over a year earlier, down from 6.4% in the previous quarter. The result was the slowest since the first quarter of 1992 when the earliest quarterly data was available, according to the Dow Jones Newswires, and lower than the 6.3% median forecast from a Wall Street Journal survey of 14 economists.

Hong Kong's Hang Seng Main Page

HSI, + 0.22%

was up to 0.3% and the Shanghai Composite

SHCOMP, + 0.76%

was 0.4%, after both indexes started trading day with losses ahead of the GDP report. South Korea's Kospi

180721, -0.12%

was about flat, while reference indices in Taiwan

Y9999, + 0.44%

Singapore

STI, -0.09%

and Indonesia

JAKIDX, + 0.70%

was mixed. Australias S & P / ASX 200

XO0, [0.36%] was down 0.4%. Japan's Nikkei was closed for a holiday.

Among some shares, PetroChina

857, -1.40%

and New World Development

17, -0.48%

fell in Hong Kong trade, along with Galaxy Entertainment

27, -0.81%

. Chip maker SK Hynix

000660, + 1.47%

rose in South Korea while LG Electronics

066570, -0.99%

slipped. Taiwan Semiconductor

2330, + 1.40%

obtained in Taiwan, while Beach Energy

BPT, + 0.51%

and Westpac Banking

WBC, -0.75%

fell in Australia.


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