Asian Stocks Starts Week in Red on China GDP Report
January 20, 2014 7:41 pm
Stocks in the Asian region started-off the week lower following the release of China’s GDP data, which revealed that China’s economy was growing at a slow pace in the fourth quarter. Shares in Japan were shaken by the nation’s weak consumer data and strong yen.
Hong Kong’s benchmark Hang Seng declined 0.47% lower at 23,025 points at the time of writing, while the China’s benchmark Shanghai Composite edged 0.18% lower to 2,001.35 points at the same time. South Korea’s Kospi index edged 0.5% higher. In Japan, the benchmark Nikkei index lost 0.74% to 15,618.23 points at the time of writing, at the same time Tokyo’s Topix index dropped 0.43% at 1,291.83 points.
Industrial & Commercial Bank of China lost 1.4% in Hong Kong, while shares in the world’s largest gaming giants, Nintendo Co. declined 6.2% in Tokyo, marking the second-biggest drop on the regional benchmark index. Car-makers Mitsubishi Motors lost 2%, while Sharp Corp declined 1% lower.
Stocks – China GDP Data
According to reports from the National Bureau of Statistics, the second-largest economy expanded by 7.7% in the fourth quarter from the previous year. Dropping from 7.8% growth seen in the previous three months.
China’s Industrial production increased by 9.7% in December, down from the 10% rise seen in the previous month. While Retail sales in December rose 13.6% higher year-on-year, compared to 13.7% recorded in November.
China’s fixed-asset investment; excluding rural households, came in 19.6% higher between January to December from the previous year, expanding by 20.6%. The tight credit conditions could reduce the nation’s economy growth even further, with policymaker’s adamant on scaling-back the nation’s banking activities.
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Stocks in the Asian region started-off the week lower following the release of China’s GDP data, which revealed that China’s economy was growing at a slow pace in the fourth quarter. Shares in Japan were shaken by the nation’s weak consumer data and strong yen.
Hong Kong’s benchmark Hang Seng declined 0.47% lower at 23,025 points at the time of writing, while the China’s benchmark Shanghai Composite edged 0.18% lower to 2,001.35 points at the same time. South Korea’s Kospi index edged 0.5% higher. In Japan, the benchmark Nikkei index lost 0.74% to 15,618.23 points at the time of writing, at the same time Tokyo’s Topix index dropped 0.43% at 1,291.83 points.
Industrial & Commercial Bank of China lost 1.4% in Hong Kong, while shares in the world’s largest gaming giants, Nintendo Co. declined 6.2% in Tokyo, marking the second-biggest drop on the regional benchmark index. Car-makers Mitsubishi Motors lost 2%, while Sharp Corp declined 1% lower.
Stocks – China GDP Data
According to reports from the National Bureau of Statistics, the second-largest economy expanded by 7.7% in the fourth quarter from the previous year. Dropping from 7.8% growth seen in the previous three months.
China’s Industrial production increased by 9.7% in December, down from the 10% rise seen in the previous month. While Retail sales in December rose 13.6% higher year-on-year, compared to 13.7% recorded in November.
China’s fixed-asset investment; excluding rural households, came in 19.6% higher between January to December from the previous year, expanding by 20.6%. The tight credit conditions could reduce the nation’s economy growth even further, with policymaker’s adamant on scaling-back the nation’s banking activities.
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