Asian markets recover after China’s GDP growth fails to meet already low expectations


Asian markets recover after China’s GDP growth fails to meet already low expectations

Asian markets recovered from early losses Monday, as China posted its weakest quarterly GDP growth in at least 27 years.

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

Hong Kong’s Hang Seng Index












HSI, +0.22%










  was last up 0.3% and the Shanghai Composite












SHCOMP, +0.76%










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












180721, -0.06%










  was about flat, while benchmark indexes in Taiwan












Y9999, +0.45%










 , Singapore












STI, -0.09%










  and Indonesia












JAKIDX, +0.70%










  were mixed. Australia’s S&P/ASX 200












XJO, -0.40%










  was down 0.4%. Japan’s Nikkei was closed for a holiday.

Among individual stocks, PetroChina












857, -1.40%










  and New World Development












17, -0.48%










  fell in Hong Kong trading, along with Galaxy Entertainment












27, -0.81%










 . Chip maker SK Hynix












000660, +1.87%










  rose in South Korea, while LG Electronics












066570, -0.99%










  slipped. Taiwan Semiconductor












2330, +1.60%










  gained in Taiwan, while Beach Energy












BPT, +0.51%










  and Westpac Banking












WBC, -0.79%










  fell in Australia.


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