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Asia bonds shelter on softer-than-expected Chinese data

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China’s industrial activity is negligence during a time when a nation might have to rigging adult for a long trade quarrel with a U.S.

Stocks in Asia fell Monday following Chinese mercantile information that suggested a world’s second largest economy might be losing steam.

China’s economy stretched 6.7% year-on-year in a second quarter, negligence from 6.8% in a prior quarter, Dow Jones Newswires reported. The figure was in line with expectations though a slower series comes during a time when Beijing is gearing adult for a trade quarrel with a U.S.

Industrial outlay grew 6% in June, noticeably negligence from 6.8% in May.

“Growth in attention slowed serve in June, underscoring a downward pressures on expansion going into second half,” pronounced Louis Kuijs, conduct of Asia economics during Oxford Economics, in a note. “We design expansion in second half to be challenged by a delayed credit expansion and softer genuine estate activity. Also, a heightening trade dispute with a U.S. will start to import on growth.”

The Shanghai Composite

SHCOMP, -0.61%

 slid 0.6%, while Hong Kong’s Hang Seng

HSI, -11.43%

was 0.1% reduce after erasing many of a progressing losses.

Korea’s Kospi

SEU, -0.39%

 shed 0.3% and Australia’s benchmark

XJO, -0.43%

 dropped 0.4%. Taiwan’s Taiex

Y9999, -0.43%

 was 0.4% lower.

Japan’s markets

NIK, +1.85%

 were sealed due to a inhabitant holiday.

Sue Chang is a MarketWatch contributor in San Francisco. You can follow her on Twitter during @SueChangMW.

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Article source: https://www.marketwatch.com/story/asia-stocks-retreat-on-softer-than-expected-chinese-data-2018-07-15

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