Share prices rose in Asia on Tuesday as China reported GDP figures as expected with the full-year coming in at 6.9% for all of 2015, the lowest since 1990.
The Shanghai Composite Index was last up 1.64% , while the S&P/ASX 200 rose 0.72% and the Nikkei 225 gained 0.21%.
In China fourth quarter GDP rose 1.6% quarter-on-quarter, a tad lower than the 1.7% gain seen, while year-on-year GDP came in at the expected 6.8% rate.
The annual pace for 2015 was calculated by the NBS at 6.9% and compare to a pace of 7.3% in 2014.
As well, the Middle Kingdom reported industrial production rose 5.9%, a tad lower than the 6.0% seen and retail sales gained 11.1%, a bit lower than up 11.3% expected for December. Then fixed asset investment rose 10%, a tad off the 10.2% gain seen.
The yuan is unchanged Tuesday following a barely altered fixing from the People's Bank of China.
It was last at 6.5793 against the U.S. dollar - the same as Monday's official close. The PBOC set the yuan fixing at 6.5590 compared with Monday's 6.5596.
On Tuesday, the People's Bank of China injected RMB75 billion via 28-day reverse repos at open-market operations in line with practice ahead of the Chinese New Year to meet liquidity demand.
The PBOC last used the 28-day reverse repo in February 2015 - also before the Chinese New Year.
The week-long celebration is probably the most important holiday in China and sees hundreds of millions traveling for family reunions as well as an increase in demand for cash.
Blogger Comment
Facebook Comment