Asian Markets Traders

Asian Markets Mixed as China’s Industrial Output Misses Expectations

Shares in the Asia-Pacific were mostly higher on Monday as investors monitored market reaction to Chinese economic data.

Mainland China markets were mixed. The Shanghai Composite fell slightly to end the day at 3,276.09 and the Shenzhen Component was up 0.33% at 12,460.22.

Hong Kong’s Hang Seng index was 0.72% lower in the final hour of trade. The S&P/ASX 200 in Australia rose 0.45% to close at 7,064.3.

MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.21% lower. Japan’s Nikkei 225 increased 1.14% to 28,871.78 while the Topix index added 0.6% to 1,984.96 after the country reported an expansion in GDP.

Asian Markets React to China Data.

China’s industrial output and retail sales data for July missed expectations while India and South Korea markets remained closed for a holiday Monday.

The Hong Kong shares of several Chinese firms, including China Life Insurance and China Petroleum and Chemical, fell following news that the companies plan to delist from the U.S.

The companies announced the news on Friday via disclosures on the Hong Kong Exchange.

China Life’s shares in Hong Kong fell 1.7%, while China Petroleum and Chemical, or Sinopec, slipped 2.41%.

Shares of Petrochina, Aluminum Corporation of China and Sinopec Shanghai Petrochemical also fell after they made similar announcements on Friday.

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