Asian markets recovered from early losses Monday, as China posted its weakest quarterly GDP growth in at the very least 27 years.
Data on Monday confirmed the world’s second-largest financial system expanded by 6.2% over a yr earlier, down from the earlier quarter’s 6.four%. The end result was the slowest because the first quarter of 1992 when the earliest quarterly knowledge was obtainable, according to Dow Jones Newswires, and decrease than the 6.three% median forecast from a Wall Street Journal ballot of 14 economists.
Hong Kong’s Hang Seng Index
was final up zero.three% and the Shanghai Composite
gained zero.four%, after each indexes began the buying and selling day with losses forward of the GDP report. South Korea’s Kospi
was about flat, whereas benchmark indexes in Taiwan
have been combined. Australia’s S&P/ASX 200
was down zero.four%. Japan’s Nikkei was closed for a vacation.
Among particular person shares, PetroChina
and New World Development
fell in Hong Kong buying and selling, together with Galaxy Entertainment
. Chip maker SK Hynix
rose in South Korea, whereas LG Electronics
slipped. Taiwan Semiconductor
gained in Taiwan, whereas Beach Energy
and Westpac Banking
fell in Australia.