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
was about flat, while reference indices in Taiwan
Y9999, + 0.44%
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
and New World Development
fell in Hong Kong trade, along with Galaxy Entertainment
. Chip maker SK Hynix
000660, + 1.47%
rose in South Korea while LG Electronics
slipped. Taiwan Semiconductor
2330, + 1.40%
obtained in Taiwan, while Beach Energy
BPT, + 0.51%
and Westpac Banking
fell in Australia.