China’s gross domestic product grew 4.9% in third quarter, official data showed Monday. That was below expectations of analysts in a Reuters poll for a 5.2% expansion. Industrial production also missed forecasts, rising 3.1% in September, against expectations in a Reuters poll for a 4.5% increase.
Elsewhere, the Nikkei 225 in Japan shed 0.29% while the Topix index declined 0.33%. South Korea’s Kospi traded fractionally lower.
Shares in Australia outperformed, with the S&P/ASX 200 advancing 0.1%.
MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.18%.
· Chinese and HK shares slide as China Q3 GDP misses estimates
Mainland Chinese and Hong Kong equity markets fell on Monday after data showed China’s economy grew more slowly than expected in the third quarter, clouding the global recovery outlook and weighing on regional stocks.
Chinese blue chips were down 1.55% and the Hong Kong benchmark lost 0.54%, although most of the falls came right after the bell, prior to the release of the data.
· Malaysia stocks hit 5-month high on reopening, China GDP caps stock gains
Malaysian shares hit a five-month peak on Monday, lifted
by higher oil prices and hopes of further economic reopening, while below-forecast Chinese growth numbers kept a lid on broader emerging stock markets.
Kuala Lumpur stocks rose 0.6%, having rallied in recent weeks after the government announced it would lift travel restrictions for fully vaccinated residents, and said it was preparing to shift into an endemic COVID-19 phase where it would no longer impose wide lockdowns.
Broader stock gains were capped after data showed China's economy grew at the slowest pace in a year in the third quarter and by less than expected.
· Indian stocks rise as higher commodity prices drive metals, energy stocks
· European markets make lackluster start to the trading week
The pan-European Stoxx 600 slid 0.35% in early trade, with retail stocks dropping 1.2% to lead losses while basic resources bucked the downward trend to climb 0.7%.
Global markets are gearing up for more earnings this week, following a stronger-than-expected start to the earnings season in the U.S. last week.
Reference: Reuters, CNBC
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