Asian main stocks fall after China GDP data releases
2019-07-15 07:50 am | Resource: News | No Views : 51
The main stock markets in the Asia-Pacific region fell on Monday amid the latest batch of Chinese economic data. Earlier data show that gross domestic product in the world's second-largest economy fell to a 27-year low, while retail and industrial production outperformed market expectations.
Chinese industrial output rose to 6.3% in June
China's industrial output grew 6.3% annually in June, the country's National Bureau of Statistics (NBS) said.
The mining sector increased 7.3% year-on-year, while the manufacturing sector added 6.2%, an increase of 1.2% compared to May 2019. The value of industrial enterprises above the specified size rose by 6.3% year-on-year, also higher 1.3% higher than the previous month.
At the same time, the production of state-owned holding companies rose 6.2% year-on-year, the shareholding companies grew by 7.6%, foreign companies invested from Hong Kong, Macao and Taiwan increased 1.8% while private enterprises increased their productivity by 8.3%.
China's GDP growth slowed in the second quarter to 6.2% year-on-year
China's gross domestic product (GDP) in the second quarter of 2019 rose 6.2 percent year-on-year, according to China's National Bureau of Statistics. This represents a 0.2% drop from the previous quarter and represents the worst result in the last 27 years.
On the other hand, this figure is in line with market expectations and expectations for the target growth rate in Beijing this year. The value added of the primary industry grew by 3% year-on-year, while the secondary industry added 5.8% compared to 2018, while higher education increased by 7% year-on-year.
The press release concluded. "In general, the performance of the national economy in the first half was within the reasonable range and maintained the momentum of progress in overall stability.However, we must recognize that economic conditions remain harsh at home and abroad, the global economy slowed growth, instability and external uncertainties are increasing , Unbalanced and inadequate development at home is still acute, the economy is under new downward pressure,
Asian stocks close
In mainland China, the Shanghai Composite Index fell 0.43% from the flat at 4:29 am CET, while the Shenzhen Composite Index fell 0.13% at one time. Hang Sang was trading flat from Hong Kong in one minute.
The South Korean Kospi index also traded negatively at 4:10 am CET. The Australian S & P / ASX 200 index was 0.31% in the red zone at 4:31 am CET.
The Nikkei 225 Japanese index closed for the day during the national holiday.
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