Market updates on June 20
What is moving the markets today
China GDP surge tops expectations
On Monday, China surge data managed to surpass expectations.
The country’s GDP for the second quarter inched up 6.9% year-on-year, and surge in the second quarter was 1.7%.
As for fixed asset investment, it grew too, with leaps from January to June of 8.6% on year, surpassing expectations. Additionally, property investment jumped 8.5% during the first half of 2017. Retail sales gained too, adding 11% in June from 2016. In non-rural areas fixed-asset investment grew 8.6% in the first half of 2017.
In June, value-added industrial output grew by 7.6%. A proxy for economic surge, the ascend turned to be higher than the 6.5% posted in May, as the National Bureau of Statistics informed. Month-on-month, industrial productions inched up 0.81% in June, which is 0.3% higher than in May.
China's surge target for the year is approximately 6.5%, unlike the 6.7% objective for last year, which surge showed its lowest outcome for 26 years.
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