(MENAFN– ecpulse)
Asian stocks advanced on Monday even if only modestly, as China’s growth data met expectations. Japanese markets are closed today for a holiday keeping volumes limited.
- MSCI Asia Pacific excluding Japan Index rose 0.2% to 439.95 as of 14:31 in Hong Kong
China expanded by 7.5% in the 2 nd quarter from a year earlier, matching estimates, yet as the industrial output numbers were weak, the downside risks to growth continue.
- China’s CSI 300 Index closed 1.40% higher at 2307.30
- Hong Kong’s Hang Seng closed 0.12% higher at 21303.31
In Australia, resource stocks led the gains as metal price climbed after China`s growth data release. The Australian dollar also rose after China’s GDP above $0.91.
- The S&P/ASX 200 closed 0.15% higher at 4981.11
- New Zealand’s NZX 50 closed 0.83% higher at 4606.24
In South Korea the benchmark index reversed the early losses after China`s data, as the mainland is South Korea top export destination.
- Kospi closed 0.28% higher at 1875.16
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