In Asia, stocks were seen opening green on Monday, after the Chinese gross domestic product (GDP) for the second quarter corresponded with analysts’ predictions, expanding by 7.5 percent. However, the GDP reports showed the Chinese economy was growing at a slower pace compared to the first quarter.
The Markets in Japan were closed for a public holiday.
The Chinese Shanghai Composite gained 1.07% to 2,069.16 at the time of writing, while the Hong Kong Hang Seng advanced by 0.43% to 21,310.95.
The Australian S&P/ASX 200 rose 0.12% at 4,979.80, as the South Kospi advanced 0.28%, closing at 1,875.98.
The Chinese gross domestic product (GDP) advanced 7.5%, compared to previous quarter’s economic growth of 7.7 %, according to reports from the National Bureau of Statistics (NBS). Indicating a slow growth in the past three months, due to the low international and domestic demand.
Sheng Laiyun spokesman to NBS said that the National Bureau of Statistics (NBS) carried out a survey with over 200,000 Chinese firms and companies, which indicated more than two-thirds of the people that took the survey, had a positive outlook on the Chinese economy.
The Chinese economy is expected to grow to an average 6.9% next year, compared to previous forecast of 7.8%, according to the financial group.
The Chinese industrial sector, showed an average year-on-year growth of 8.9% in June, down from previous forecast of 9.1%, according to the National Bureau of Statistics.
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