Post by pavel on Jan 18, 2016 23:23:46 GMT -6
Asia stocks up modestly as China GDP figures match expectations
Asian stocks rose modestly and crude oil prices nudged up on Tuesday after Chinese GDP figures were mostly in line with expectations.
China's economy grew 6.8 percent in the fourth quarter from a year earlier, the data showed, the slowest growth since 2009. Industrial output in December rose 5.9 percent from a year earlier, compared with forecasts for a 6.0 percent increase. ECONCN
The lack of negative surprises offered the market a slight reprieve following a tumultuous start to 2016 as concerns about China's economic health weighed heavily on global growth prospects.
"I think that at least the biggest fears about the real economy, fears that came to the surface during the stock market rout...I think those biggest fears were overblown," said Louis Kuijs, head of Asia economics at Oxford Economics in Hong Kong.
Read more: www.reuters.com/article/us-global-markets-idUSKCN0UX00N
Asian stocks rose modestly and crude oil prices nudged up on Tuesday after Chinese GDP figures were mostly in line with expectations.
China's economy grew 6.8 percent in the fourth quarter from a year earlier, the data showed, the slowest growth since 2009. Industrial output in December rose 5.9 percent from a year earlier, compared with forecasts for a 6.0 percent increase. ECONCN
The lack of negative surprises offered the market a slight reprieve following a tumultuous start to 2016 as concerns about China's economic health weighed heavily on global growth prospects.
"I think that at least the biggest fears about the real economy, fears that came to the surface during the stock market rout...I think those biggest fears were overblown," said Louis Kuijs, head of Asia economics at Oxford Economics in Hong Kong.
Read more: www.reuters.com/article/us-global-markets-idUSKCN0UX00N