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Asian shares mixed with China GDP reaching expected 7.3%

Published 10/20/2014, 11:38 PM
Updated 10/20/2014, 11:45 PM
Asian shares mixed

Investing.com - Asian shares were mixed Tuesday after China's economy grew at expectations in the the third quarter.

The Hang Seng Index was up 0.4%, after data showed China's gross domestic product rose 7.3%from a year earlier in the third quarter, down from 7.5% growth in the second quarter of this year.

Official data also showed that China's industrial output growth in September accelerated and rebounded from a near-six-year low in August, driven by the government's recent targeted easing measures. Industrial production rose 8.0% in September from a year earlier, better than forecast, while retails sales for the same month gained 12%, also better than expected.

Investors in Hong Kong were also weighing the latest developments in the standoff between city officials and pro-democracy student demonstrators in Hong Kong. Yesterday night, Hong Kong's Chief Executive Leung Chun-ying played down prospects that the government would budge on its stance ahead of talks with student leaders scheduled tonight.

The Shanghai Composite Index was roughly flat. The index, having rallied from July, is up more than 11% so far this year.

The Nikkei 225 fell 0.6%, as the dollar weakened. Australia's S&P/ASX 200 was up 0.1%.

Overnight, U.S. stocks traded largely higher on earnings expectations.

The Dow 30 rose 0.12%, the S&P 500 index rose 0.91%, while the NASDAQ Composite index rose 1.35%.

On Tuesday the U.S. is to release private-sector data on existing home sales.

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