Asian markets ended firm on Tuesday following Chinese fourth quarter GDP data. For the Oct-Dec quarter, China's gross domestic product although at a 2.5-year low, was better-than-expected at 8.9%. This data showed the world's second largest economy grew at a faster pace than expected in the fourth quarter and helped soothe fears that Europe's debt-related problems will slow the Chinese economy. Other key Chinese data, including retail sales and industrial output, also beat estimates. Meanwhile a successful French bond sale and gains in European stocks also supported the market. However, the first major test of France's fiscal credibility comes on Thursday, when it attempts to sell between 7.5 and 9.5 billion euros' worth of longer term bonds.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,298.38 | 92.18 | 4.18 |
Hang Seng | 19,627.75 | 615.55 | 3.24 |
Jakarta Composite | 3,954.75 | 45.06 | 1.15 |
Nikkei 225 | 8,466.40 | 88.04 | 1.05 |
Straits Times | 2,815.85 | 59.36 | 2.15 |
Seoul Composite | 1,892.74 | 33.47 | 1.80 |
Taiwan Weighted | 7,221.08 | 177.46 | 1.65 |