OctaFX | OctaFX Forex Broker
Open trading account
Back

Asian markets mostly down on weaker China GDP

FXstreet.com (Barcelona) - Mainland China’s Shanghai Composite (-0.96%), Hong Kong’s Hang Seng (-1.26%) and Japan’s Nikkei Stock Average (-0.95%) fell on Monday with the disappointing release of China GDP data, easing from 7.9% to 7.7% (consensus of 8.0%) in Q1 (YoY), while QoQ data came in at 1.6% (consensus of 1.9%). Also, Chinese urban investment (down from 21.2% to 20.9% vs 21.3% consensus) and industrial production (down from 9.9% to 8.9% vs 10% consensus) in March didn’t help the mood, unlike China retail sales that rose from 12.3% to 12.6%, against expectations of 12.5%.

Also affecting Japan’s Nikkei performance was the publication of Japan February industrial production (down from -5.8% to -10.5%) and capacity utilization (down from 1.7% to 0.7%). However, the monthly change in industrial production came in higher than expected, at 0.6% instead of -0.1%.

Futures for the German DAX 30 (+0.03%) and the French CAC 40 (+0.05%) are signaling a slightly higher opening ahead of EMU trade balance data.

Forex: EUR/USD keeps lows around 1.3070/75

The single currency is now bouncing off session lows in the boundaries of 1.3060 after the GDP figures for the first quarter in the Chinese economy came softer than expected, rising 7.7% YoY against forecasts...
Read more Previous

Forex: GBP/USD hovering over 1.5315/20

The sterling is following the rest of the risk-associated assets on Monday, trading on the back foot after the tepid data from the Chinese economy...
Read more Next
Start livechat