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Asian shares flat ahead of Chinese growth numbers | Asian shares flat ahead of Chinese growth numbers |
(34 minutes later) | |
Asian stocks opened the week largely flat ahead of Chinese growth data expected to confirm the second-largest economy slowing down further. | Asian stocks opened the week largely flat ahead of Chinese growth data expected to confirm the second-largest economy slowing down further. |
Chinese growth is estimated to come in at about 6.8% - below the official 7% target. | Chinese growth is estimated to come in at about 6.8% - below the official 7% target. |
China's growth data is closely watched as a major economic driver for the region as well as the global economy. | China's growth data is closely watched as a major economic driver for the region as well as the global economy. |
The country's main index, the Shanghai Composite, was marginally up by 0.2% at 3,397.97 points. | |
In Hong Kong, the Hang Seng fell by 0.2% to 23,006.3 points. | |
The region's largest market, Japan's Nikkei index, was down 1.1% at 18,090.38 points. | |
South Korea's Kospi was flat in early trade at 2,032.5 points. | |
The country's stocks were also affected by the strengthening of the won currency affecting the results outlooks for export-oriented sectors such as cars and technology. | The country's stocks were also affected by the strengthening of the won currency affecting the results outlooks for export-oriented sectors such as cars and technology. |
Shares in Kia Motors rose almost 1% on news that sales in Europe were at a record high. | Shares in Kia Motors rose almost 1% on news that sales in Europe were at a record high. |
In Australia, the S&P/ASX 200 index was down 0.2% at 5,256.60 points. | |
Mining stocks were pulled down by the anticipation of slowing economic growth in China, with BHP Billiton, Rio Tinto and Newcrest all falling in early trade. | Mining stocks were pulled down by the anticipation of slowing economic growth in China, with BHP Billiton, Rio Tinto and Newcrest all falling in early trade. |
China is the biggest export market for Australian commodities. | China is the biggest export market for Australian commodities. |
The biggest rise in Sydney was Treasury Wine Estates, whose shares surged 13.5% after last week's news that the company will buy most of the wine business of Britain's Diageo. | The biggest rise in Sydney was Treasury Wine Estates, whose shares surged 13.5% after last week's news that the company will buy most of the wine business of Britain's Diageo. |