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Asian shares trade lower on weak Chinese growth data | |
(about 4 hours later) | |
Chinese stocks have fallen slightly after third quarter growth data missed the official target. | |
The world's second-largest economy grew by 6.9% compared with a year earlier - below the official 7% target but still better than predicted. | |
China's growth data is watched closely as a major economic driver for the region, as well as for the global economy. | |
The country's main index, the Shanghai Composite, fell by 0.7% to 3,367.70. | |
In Hong Kong, the Hang Seng fell by 0.9% to 18,131.23. | |
The region's largest market, Japan's Nikkei index, finished the day down 0.6% at 18,177.43 points. | |
South Korea's Kospi was flat in early trading at 2,030.27 points. | |
Stocks were also affected by the strengthening of the won currency, which hits export-oriented sectors such as cars and technology. | |
However, 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 also traded flat at 5,269.70 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 trading. | |
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 - shares surged more than 12% after last week's news that the company will buy most of the wine business of Britain's Diageo. |