Asian stocks are confused with China data

SHAFAQNA Markets in Turkey and Asia-Pacific were mixed on Tuesday as investors weighed in on China’s economic data.

In mainland China, the Shenzhen Component made up its previous losses and rose 0.06 percent, while the country’s economy grew 3 percent in 2022, one of the slowest growth rates in a decade, while the Shanghai Composite fell 0.19 percent.

The Hong Kong Hang Seng Index fell 1 percent and the Hang Seng Tech Index fell 0.68 percent.

The Nikkei 225 rose 1.23% after the Bank of Japan started its two-day monetary policy meeting, pushing up the region. Japan’s 10-year Treasury yield will be in the spotlight as it continues to test the upper end of the central bank’s tolerable range. Topix shares rose 0.78%.

The Japanese yen fell 0.25% to 128.84 against the US dollar, its strongest level since May 2022.

In Australia, the S&P/ASX 200 lost 0.17% as the country’s Westpac consumer confidence rose 5% in December from 3% in November, data from Refinitiv showed. The South Korean Kospi fell 0.52% and the Kosdaq fell 0.77%.


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