Daily Stock Market News

China GDP, Japan CPI, China retail sales, industrial production, unemployment


The skyline of the central business district in Beijing on August 13, 2019. (Photo by WANG Zhao / AFP)

WANG ZHAO | AFP | Getty Images

China’s CSI 300 rebounded after the country reported better-than-expected economic growth, while most Asia-Pacific markets were mixed.

China’s third-quarter GDP grew 4.6% compared to the same period last year, slightly above estimates by economists in a Reuters poll but down from 4.7% in the previous quarter.

The rate was at its lowest level since the middle of last year, moving further away from Beijing’s 5% annual growth target.

Data for the month of September showed that retail sales beat estimates to grow 3.2% year on year, while China’s industrial output also grew faster than expected at 5.4%.

Meanwhile, China’s house prices fell 5.8% year-over-year in September, a larger drop than 5.3% in August.

Mainland China’s CSI 300 was trading up 0.7% as investors ingested the data. Hong Kong’s Hang Seng index was up 1.3% in choppy trading.

Japan’s headline inflation for September came in at 2.5%, while core CPI — which excludes fresh food prices — rose 2.4% year on year compared with Reuters estimates of 2.3%.

Japan’s Nikkei 225 was trading 0.4% higher while the broad-based Topix rose 0.3%.

South Korea’s blue-chip Kospi slipped 0.4%, while the small-cap Kosdaq was down 1.4%.

Australia’s S&P/ASX 200 was down 0.8%.

Overnight in the U.S., the Dow Jones Industrial Average rallied to a new record close after strong economic data eased lingering fears of a potential recession. The blue-chip index rose 161 points, or 0.37%, to 43,239.05.

The S&P 500 closed down 0.02% to settle at 5,841.47 after hitting an intraday record earlier in the session.

The Nasdaq Composite rose 0.04% inched higher, as chipmakers rallied, to end at 18,373.61.

All three indexes are tracking for their sixth straight positive week.

— CNBC’s Lisa Kailai Han and Hakyung Kim contributed to this report.



Read More: China GDP, Japan CPI, China retail sales, industrial production, unemployment

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