Asian markets ended mostly higher on Monday as weak GDP data from China spurred hopes that authorities will pursue more stimulus to support growth. Investors also cheered media reports suggesting that China had offered to buy more American goods through 2024 to eliminate its trade imbalance with the US. Chinese shares rose as GDP figures came in line with expectations and reports on industrial production and retail sales topped forecasts. China's GDP grew a seasonally adjusted 1.5 percent sequentially in the fourth quarter of 2018, in line with expectations and down from 1.6 percent in the third quarter. On an annualized basis, GDP expanded 6.4 percent - again matching forecasts and down from 6.5 percent in the three months prior. Separately, industrial production climbed 5.7 percent on year in December, topping forecasts for 5.3 percent and up from 5.4 percent in November. Retail sales were up an annual 8.2 percent - topping expectations for 8.1 percent, which would have been unchanged. Further, Japanese shares eked out modest gains to hit over one-month high as a softer yen boosted exporters. Meanwhile, Malaysian markets are closed for a public holiday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,610.51 | 14.50 | 0.56 |
Hang Seng | 27,196.54 | 105.73 | 0.39 |
Jakarta Composite | 6,450.83 | 2.67 | 0.04 |
KLSE Composite | - | - | - |
Nikkei 225 | 20,719.33 | 53.26 | 0.26 |
Straits Times | 3,220.56 | -3.78 | -0.12 |
KOSPI Composite | 2,124.61 | 0.33 | 0.02 |
Taiwan Weighted | 9,889.40 | 53.34 | 0.54 |
