Retail sales in China increased 4.9 percent year over year in October
According to Reuters, preliminary estimates released Monday showed Japan's GDP contracted by an annual rate 3% in the July-September quarter, far more than the median market forecast of a 0.8 percent contraction
On Monday, Asian stock markets were neutral as investors reacted to the latest Chinese GDP statistics for October.
The Shanghai composite fell 0.16 percent to 3,533.30, while the Shenzhen component down 0.469 percent to 14,636.39. Mainland Chinese stocks ended the day lower. As of the last hour of trading, the Hang Seng index in Hong Kong was slightly altered.
Mainland China’s losses occurred despite better-than-expected Chinese economic indicators. Retail sales in China increased 4.9 percent year over year in October, exceeding the 3.5 percent increase forecast in a Reuters poll.
In addition, industrial output increased 3.5 percent in March compared to the same month a year ago, exceeding analysts’ estimates of a 3 percent growth in a Reuters poll.
In other news, the Kospi in South Korea finished 1.03 percent higher at 2,999.52, topping advances across the region’s main markets, as shares of chipmaker SK Hynix climbed 4.23 percent. The Nikkei 225 index in Japan surged 0.56 percent to 29,776.80, boosted by 2.23 percent gains in SoftBank Group shares. To 2,048.52, the Topix index rose 0.39 percent.
According to Reuters, preliminary estimates released Monday indicated Japan’s GDP contracted by an annualised 3% in the July-September quarter, significantly more than the median market prediction of a 0.8 percent contraction.
The Australian S&P/ASX 200 index finished the day 0.36 percent higher at 7,470.10. Outside of Japan, MSCI’s broadest index of Asia-Pacific stocks rose 0.35 percent.
