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Asia Markets: Asian markets recover after China’s GDP growth fails to meet already low expectations

Asian markets recovered from early losses Monday, as China posted its weakest quarterly GDP growth in at least 27 years.

Data on Monday showed the world’s second-largest economy expanded by 6.2% over a year earlier, down from the previous quarter’s 6.4%. The result was the slowest since the first quarter of 1992 when the earliest quarterly data was available, according to Dow Jones Newswires, and lower than the 6.3% median forecast from a Wall Street Journal poll of 14 economists.

Hong Kong’s Hang Seng Index HSI, +0.22% was last up 0.3% and the Shanghai Composite SHCOMP, +0.76% gained 0.4%, after both indexes started the trading day with losses ahead of the GDP report.

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