28.7 C
Thursday, August 18, 2022

Asian shares mixed after China says growth weakened in 2Q

BANGKOK — Share prices were mixed in Asia on Friday after China reported its economy contracted by 2.6% in the last quarter as virus shutdowns kept businesses closed and people at home.

U.S. futures and oil prices edged higher.

Tokyo’s Nikkei 225 index added 0.5% to 26,788.47. The Kospi in Seoul was up 0.2% at 2,327.76 and shares also rose in India and Taiwan.

The Shanghai Composite index lost 0.8% to 3,254.74. Australia’s S&P/ASX 200 dropped 0.8% to 6,596.90 and the Hang Seng in Hong Kong declined 1.9% to 20,347.96.

Official data showed the Chinese economy shrank by 2.6% compared with the January-March period’s already weak quarter-on-quarter rate of 1.4%. Compared with a year earlier, which can hide recent fluctuations, growth slid to a weak 0.4% from the earlier quarter’s 4.8%.

Anti-virus controls shut down Shanghai, site of the world’s busiest port, and other…

Read more…

See also  Ret. Air Force Captain & Instructor of Business at Bryant, John T. Perry, Dies

Related Articles

Translate page to 11 different languages
ArabicChinese (Simplified)DutchEnglishFrenchGermanItalianPortugueseRussianSpanishThai

Latest Articles