Asian shares trading mixed as China reports growth slowed | Business
TOKYO (AP) — Asian shares were mixed Thursday, taking their cues from a wobbly day of trading on Wall Street.
China reported its economy expanded at a 7.9% annual rate in the last quarter, down from 18.3% in January-March in a leveling off of its relatively early recovery from the pandemic.
Japan’s benchmark Nikkei 225 slipped 1.2% to finish at 28,279.09. Australia’s S&P/ASX 200 slipped 0.3% to 7,335.90. South Korea’s Kospi added 0.5% to 3,282.35. Hong Kong’s Hang Seng added 1.1% to 28,082.00, while the Shanghai Composite rose nearly 1.0% to 3,563.20.
Reaction to China’s latest data was muted, said Harpreet Bhal of ActivTrades.
“Investors will be watching the dynamics of the narrative around China’s monetary and fiscal easing as worries around H2 growth materialize after a possible pick-up…
