Chinese economy grows by 4.9% in 3rd quarter, falling short of expectations, official data shows on Monday
Major stock markets in Asia posted mixed figures at Monday’s close amid disappointing China macroeconomic data.
The Chinese economy grew by 4.9% in the third quarter, falling short of expectations. The slowdown was primarily due to a deceleration in the housing sector and an energy supply shortage.
Accordingly, the country’s industrial output fell by 3.1%, below market forecasts.
China’s Shanghai stock exchange was down by 4.23 points or 0.12% to reach almost 3,568 points.
The Asia Dow, which includes blue-chip companies in the region, lost 13.18 points, or 0.34%, to close at nearly 3,905 points.
Tokyo’s Nikkei 225 stock exchange also decreased 43.17 points, or 0.15%, to 29,025.
The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange,saw a rise of 78.8 points, or 0.31%, to 25,409.
The Singapore index increased slightly by 2.17 points, or 0.07%, to reach 3,176, while the Indian Sensex benchmark saw a hike of 489.48 points, or 0.80%, to reach 61,795 points.