Asian stocks ascend on firm China GDP

Asian stocks ascend on firm China GDP

On Monday, Asian stocks set a fresh two-year peak, underpinned by stronger-than-expected economic surge in China as well as bets that dismal American data will keep the Fed cautious as for the pace of further monetary policy tightening.

Chinese blue-chips managed to recoup abrupt early losses after data revealed that the world's second-largest economy ascended at a moderately faster than expected pace of 6.9% during the second quarter, due to robust industrial output, exports and retail sales.

Outside Japan, MSCI's broadest index of Asia-Pacific stocks extended earlier profits to gain 0.4% after the buoyant China reports. Japanese markets didn’t function due to a holiday.

Australian stocks, which started on Monday in negative territory, rose 0.1%, while South Korea's KOSPI ascended 0.4%.

Meanwhile, in China the CSI 300 leapt 0.2%, having dropped 2.2%. The Shanghai Composite narrowed earlier drops as much as 2.6%, tumbling 0.1%.

Similar

Australian equities dive at close of trade

On Monday, Australian shares lost after the close due to the fact losses in the Utilities, Consumer Discretionary as well as Financials sectors suppressed stocks…

Popular

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later