Markets

Asia Stocks Slip as Data Shows China's Economy Grew Less Than Expected in the Third Quarter

Toru Hanai | Bloomberg via Getty Images

Employees wearing protective masks work in the trading room at the Daiwa Securities Group Inc. headquarters in Tokyo, Japan, on Thursday, Oct. 14, 2021.

  • Asia-Pacific stocks mostly slipped on Monday.
  • Chinese economic data, including the country's third-quarter gross domestic product and September industrial production, was released on Monday.
  • Oil prices were higher in the afternoon of Asia trading hours, with U.S. crude futures gaining 1.08% to $83.17 per barrel.

SINGAPORE — Stocks in Asia-Pacific mostly slipped on Monday as investors reacted to the release of key Chinese economic data.

In mainland China, the Shanghai composite slipped 0.12% to close at 3,568.14 while the Shenzhen component declined 0.458% on the day to 14,350.02. The Hang Seng index in Hong Kong fell anpit 0.4%, as of its final hour of trading.

China's gross domestic product grew 4.9% in third quarter, official data showed Monday. That was below expectations of analysts in a Reuters poll for a 5.2% expansion. Industrial production also missed forecasts, rising 3.1% in September, against expectations in a Reuters poll for a 4.5% increase.

Elsewhere, the Nikkei 225 in Japan shed 0.15% to close at 29,025.46 while the Topix index declined 0.23% to end the trading day at 2,019.23. South Korea's Kospi closed 0.28% lower at 3,006.68.

Shares in Australia outperformed, with the S&P/ASX 200 advancing 0.26% to close at 7,381.10.

MSCI's broadest index of Asia-Pacific shares outside Japan declined 0.25%.

Oil prices rise

Oil prices were higher in the afternoon of Asia trading hours, with U.S. crude futures gaining 1.08% to $83.17 per barrel. International benchmark Brent crude futures rose 0.66% to $85.42 per barrel.

Shares of oil companies also advanced on Monday, with Australia's Beach Energy up 2.77% while Santos climbed 1.36%. In Japan, Inpex's stock surged 4.88%. Hong Kong-listed shares of CNOOC also gained 1.27% in afternoon trade.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.13 after a recent weakening from above 94.2.

The Japanese yen traded at 114.32 per dollar, having weakened late last week from below 114.1 against the greenback. The Australian dollar changed hands at $0.74, largely holding on to gains after last week's climb from below $0.732.

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