Media ININ Economy We Trust
Media IN Bangkok, July 15 (BNA):
Shares were mixed in Asia on Monday, with gains in Chinese markets on hopes for fresh stimulus measures after the government reported that the economy grew at the slowest pace in a decade in the last quarter.
Analysts said the 6.2% annual rate of growth reported for April-June suggests the trade war between the US and China is hammering industries, Associated Press (AP) reported.
The Shanghai Composite index gained 0.4% to 2,942.19 while Hong Kong’s Hang Seng index gained 0.2% to 28,536.36. Australia’s S&P ASX 200 fell 0.7% to 6,653.00 and in South Korea, the Kospi shed 0.2% to 2,082.48. India’s Sensex climbed 0.2% to 38,802.90. Japan’s markets were closed for a national holiday.
The growth data for China was the weakest since the first quarter of 2009, in the aftermath of the global financial crisis.
Tariff hikes by President Donald Trump have battered Chinese as well as US exporters, and Chinese leaders have increased spending and loosened controls on bank lending to keep growth within this year’s range of 6% to 6.5%.
Trump and Chinese President Xi Jinping agreed in late June to restart talks on their stand-off over the longstanding US trade deficit and Chinese economic policies the US side says are unfair and violate market Beijing’s market opening commitments.
