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Asia-Pacific stocks mixed amid investors reacting to China’s GDP data

Asia-Pacific stocks mixed amid investors reacting to China’s GDP data
Asia-Pacific stocks mixed amid investors reacting to China’s GDP data

Stocks in the Asia-Pacific reported a mixed composition in the Monday afternoon trade amid reactions from investors citing the release of GDP data in China. While stocks on the Mainland China witnessed a fall by the afternoon, the Shanghai composite witnessed a lowering by 0.33 per cent with the Shenzen component shedding 0.362 per cent.

The U.S. dollar index for the Asia-Pacific has also depicted a value of 93.748 following levels around 93.9 in the recent days with the Japanese yen was traded at the rate of 105.44 for every dollar after witnessing values lower than 105.3 against the greenback the previous week. The exchange rate for the Australian dollar was $0.7087 following its fall from levels above $0.715 the last week.

The afternoon Asian trading hours have also witnessed a drop in oil prices, with international benchmark Brent crude futures lowered by over 0.3 per cent to $42.78 for every barrel. The U.S. crude futures was also reported to be down by nearly 0.4 per cent at $40.72 per barrel.

Hong Kong’s Hang Seng index has risen by 0.69 per cent, with HSBC shares listed in the city receiving over 1.5 per cent, state reports. While Alibaba’s shares in Hong Kong have climbed up by 0.95 per cent, the Chinese tech giant’s fintech confederate Ant Group has reportedly obtained the approval of the China Securities Regulatory Commission for the Hong Kong branch of its forecasted listing.

According to China’s National Bureau of Statistics, the country’s third quarter GDP escalated 4.9 per cent in comparison to the previous year. This performance stands well against the Chinese economists’ expectations of 5.2 per cent growth in GDP during the third quarter.

Japan’s Ministry of Finance has also recorded a fall of 4.9 per cent in the country’s exports as compared to September 2019. However, the Topix index in the country has reportedly risen by 1.39 per cent with the Nikkei 225 registering a rise of 1.21 per cent, cite sources.

 

Source Credits:

https://www.cnbc.com/2020/10/19/asia-markets-cin.html