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Asian markets rallied after the first losses on Monday, with China recording its weakest quarterly GDP growth for at least 27 years.
Data released on Monday show that the world's second-largest economy grew 6.2 percent from the previous year, down from 6.4 percent in the previous quarter. According to Dow Jones Newswires, the result was the slowest since the first quarter of 1992, the year when the first quarterly data was available, and lower than the median forecast of 6.3% from a Wall Street Journal poll conducted by 14 economists.
Hong Kong Hang Seng Index
HSI, + 0.22%
was up 0.3% and the Shanghai Composite
SHCOMP, + 0.76%
up 0.4% after both indexes started the trading day with losses ahead of the GDP report. Kospi from South Korea
180721, -0.11%
was about, while the benchmarks in Taiwan
Y9999, + 0.40%
, Singapore
IST -0.09%
and Indonesia
JAKIDX, + 0.71%
were mixed. The S & P / ASX 200 from Australia
XJO, -0.36%
was down 0.4%. The Nikkei of Japan was closed for holidays.
Among the individual shares, PetroChina
857 -1.40%
and development of the new world
17 -0.48%
hit the trade in Hong Kong, with Galaxy Entertainment
27 -0.81%
. SK Hynix chip maker
000660, + 1.61%
in South Korea, while LG Electronics
066,570, -1.13%
slipped. Taiwan Semiconductor
2330 + 1.40%
in Taiwan, while Beach Energy
BPT, + 0.64%
and Westpac Banking
WBC, -0.75%
fell in Australia.
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