HONG KONG, Oct 19 (APP/AFP): Asian markets mostly rose Wednesday but early gains were pared as dealers shrugged at news China’s economy had stabilised in the third quarter. News that China grew at 6.7 percent during July-September, beating a forecast in an AFP poll, came as relief following a years-long slowdown in the country that has been a major drag on economies from Asia to the Americas. While that figure is within the government’s target of 6.5-7.0 percent for the year, it compares to the 6.9 percent annual rate in 2015, the slowest pace in a quarter of a century. And analysts said there was little in the data to drive big moves and it would likely mean Beijing will hold off any fresh stimulus measures. Shanghai ended flat and Hong Kong gave up 0.1 percent in the afternoon. However, Tokyo closed 0.2 percent higher and Sydney — where several listed firms have interests in China — rose 0.5 percent. Seoul was slightly higher, Singapore put on 0.2 percent in late trade, Taipei added 0.7 percent and Manila soared 1.8 percent.
Business News
Asian stocks mostly up, but traders shrug at China GDP
