Chinese markets turn higher after GDP data release

Monday, 15. July 2019 07:55

Chinese markets went from dropping after economic data published by the National Bureau of Statistics showed that China's industrial output increased by 6.3% in June and GDP rose 6.2%, recording the weakest growth rate in 27 years. Meanwhile, retail sales increased 9.8%, exceeding market expectations. Japan's Nikkei 225 was closed for Marine Day.

The Shanghai Composite increased by 0.25% at 7:49 am CET and the Shenzhen Composite jumped 0.92% at 7:50 am CET. In Hong Kong, where protests broke out once again over the weekend, the Hang Seng was flat, trading 0.04% up at 7:51 am CET.

Sentiment was less optimistic in South Korea and Australia as the Kospi and the S&P/ASX were lower 0.10% and 0.43%, respectively, at 7:51 am CET.

The dollar gained 0.11% against the yen at 7:53 am CET, changing hands at 108.0285.

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Breaking the News / VP