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
slid 0.6%, while Hong Kong’s Hang Seng
was 0.1% reduce after erasing many of a progressing losses.
shed 0.3% and Australia’s benchmark
dropped 0.4%. Taiwan’s Taiex
was 0.4% lower.
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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