Investing.com - Asian stocks rose on Monday on expectations Beijing will take steps to stimulate its economy and spur more growth after the country reported its slowest quarterly growth rates in three years.
During Asian trading on Monday day, Hong Kong's Hang Seng Index was up 0.08%, while Australia's S&P/ASX200 was up 0.70%.
Japanese markets were closed for the Marine Day holiday.
China's gross domestic product grew 7.6% in the second quarter, and while largely in line with expectations, the figure still fell well below the more robust 8.1% rate posted in the first quarter of this year.
The number was China's coolest quarterly growth figure in three years, prompting China’s Premier Wen Jiabao to state the country will push through measures to spur more growth.
The news sent stocks climbing, as monetary stimulus measures ranging from interest-rate cuts to liquidity injections to adjustments to reserve requirements are often bullish for stocks.
In Australia, coal producer Whitehaven Coal stocks shot up after Australian mining magnate Nathan Tinkler offered to buy out the company's outstanding shares.
In Hong Kong, top gainers included PetroChina, up 1.62%, Li & Fung, up 1.38%, and China Life Insurance Co., up 1.11%.
In Australia, top gainers included Whitehaven Coal, up 15.94%, Intrepid Mines, down 11.34%, and Gryphon Minerals, up 8.33%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.39%, while Germany's DAX 30 futures signaled a loss of 0.28%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.17%.
Dow Jones Industrial Average futures were down 0.20% while the S&P 500 futures were down 0.21%.
The Reserve Bank of Australia will release the minutes of its latest monetary policy meeting later Monday.
Also on Monday, the U.S. will publish retail sales data, the foremost indicator of consumer spending, which accounts for the bulk of the country's total economic output.
During Asian trading on Monday day, Hong Kong's Hang Seng Index was up 0.08%, while Australia's S&P/ASX200 was up 0.70%.
Japanese markets were closed for the Marine Day holiday.
China's gross domestic product grew 7.6% in the second quarter, and while largely in line with expectations, the figure still fell well below the more robust 8.1% rate posted in the first quarter of this year.
The number was China's coolest quarterly growth figure in three years, prompting China’s Premier Wen Jiabao to state the country will push through measures to spur more growth.
The news sent stocks climbing, as monetary stimulus measures ranging from interest-rate cuts to liquidity injections to adjustments to reserve requirements are often bullish for stocks.
In Australia, coal producer Whitehaven Coal stocks shot up after Australian mining magnate Nathan Tinkler offered to buy out the company's outstanding shares.
In Hong Kong, top gainers included PetroChina, up 1.62%, Li & Fung, up 1.38%, and China Life Insurance Co., up 1.11%.
In Australia, top gainers included Whitehaven Coal, up 15.94%, Intrepid Mines, down 11.34%, and Gryphon Minerals, up 8.33%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.39%, while Germany's DAX 30 futures signaled a loss of 0.28%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.17%.
Dow Jones Industrial Average futures were down 0.20% while the S&P 500 futures were down 0.21%.
The Reserve Bank of Australia will release the minutes of its latest monetary policy meeting later Monday.
Also on Monday, the U.S. will publish retail sales data, the foremost indicator of consumer spending, which accounts for the bulk of the country's total economic output.