Citywire for Financial Professionals
Stay connected:

View the article online at

Asia shares mixed amid strong China GDP figures

Hyundai was down 1.95% after workers at the company voted to go on strike in reaction to a breakdown in wage negotiations.

Asia shares mixed amid strong China GDP figures

Asian stocks were mixed on Monday following the release of better-than-expected China’s second-quarter GDP and on bets that the Federal Reserve's policy will remain accommodative following lacklustre US data.

South Korea's Kospi was up 0.29% as the benchmark index edged away from the 2,430 level. Down under, the S&P/ASX 200 traded below the flat line, edging down by 0.13%. Hong Kong's Hang Seng Index rose 0.36%.

On the mainland, markets traded in negative territory following the release of second-quarter GDP data. The Shanghai Composite was down 1.45% and the Shenzhen Composite tumbled 2.9%.

Japan markets were closed for Marine Day.

China second-quarter GDP rose 6.9% on year, better than the 6.8% forecast by a Reuters poll. The Chinese government is aiming for annual GDP growth this year to come in around 6.5%.

Wall Street closed higher on Friday, after data showed consumer prices were unchanged in June and retail sales fell for a second straight month, pointing to tame inflation and subdued expectations of strong economic growth in the second quarter.

In individual stocks in Asia, Hyundai was down 1.95% following news that unionised workers at the company had voted to go on strike in reaction to a breakdown in wage negotiations.

Hong Kong-listed gaming stocks traded in negative territory, with Wynn Macau down 4.6% and Melco International Development off 3.62%.

In currency news, the Australian dollar traded at $0.7824 at 10:18 a.m. HK/SIN after climbing for five straight sessions last week.

The dollar edged up after being dented by weaker-than-expected inflation data last Friday. The dollar index, which measures the dollar against a basket of currencies, traded at 95.165 at 10:18 a.m. HK/SIN.

Against the yen, the greenback was firmer at 112.62 after sinking last Friday. The dollar had traded around the 113 handle for most of last week.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

The Citywire Guide to Investment Trusts

In this guide to investment trusts, produced in association with Aberdeen Asset Management, we spoke to many of the leading experts in the field to find out more.

Watch Now

More about this:


Today's articles

Tools from Citywire Money

From the Forums

+ Start a new discussion

Weekly email from The Lolly

Get simple, easy ways to make more from your money. Just enter your email address below

An error occured while subscribing your email. Please try again later.

Thank you for registering for your weekly newsletter from The Lolly.

Keep an eye out for us in your inbox, and please add to your safe senders list so we don't get junked.


Barnett eyes revival and 'refines' unquoted portfolio

by Daniel Grote on May 23, 2018 at 16:09

Sorry, this link is not
quite ready yet