Asian markets remained mixed after data from China

18.10.2019 / 06:24

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Optimism at the start of the Asian trading session went into a mixed mood after Chinese economic data was announced. GDP contracted from 6.1% to 6% compared to the previous 6.2%.

Following the release of the data, major Chinese markets shook off some of the initial rises. Shanghai Composite remained flat, Shenzhen Composite was up 0.4% and Shenzhen Component was up 0.1%. The Hang Seng index remained almost unchanged.

The ongoing trade war is clearly outpacing Chinese growth, slowing down to its slowest pace for 27 years. The Chinese reiterated the rhetoric yesterday that the US must first remove all tariffs in order for the two sides to conclude a trade agreement.

Elsewhere, the Australian benchmark ASX200 fell 0.7%, with the banking sector leading the downturn. In Japan, the Nikkei 225 rose 0.51% and the Kospi 0.33%.

The broad Asian index MSCI Asia - Pacific ex - Japan rose 0.15%.

Trader Martin Nikolov

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Asian markets remained mixed after data from China

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