Asia shares mixed amid strong China GDP figures

U.S. President Donald Trump accompanied by Vice President Mike Pence

Asia shares mixed amid strong China GDP figures

Asian stocks were mixed on Monday following the release of better-than-expected China's second-quarter GDP and on bets that the Federal Reserve's policy will remain accommodative following lacklustre USA data.

South Korea's Kospi was up 0.29% as the benchmark index edged away from the 2,430 level.

The euro was last mostly flat against the dollar at $1.1465, while the dollar recovered from Friday's almost two-week low against the yen of 112.24 yen to last trade 0.3 percent higher against the Japanese currency at 112.83 yen.

On the mainland, markets traded in negative territory following the release of second-quarter GDP data. The Shanghai Composite was down 1.45% and the Shenzhen Composite tumbled 2.9%. Markets in Japan are shut on Monday for a holiday.

China's second-quarter gross domestic product topped forecasts with a rise of 6.9 percent on the year, while retail sales and industrial output from the world's second-largest economy were both strong. The Chinese government is aiming for annual GDP growth this year to come in around 6.5%.

Hong Kong-listed gaming stocks traded in negative territory, with Wynn Macau down 4.6% and Melco International Development off 3.62%.

"The better-than-expected China data has been supportive for emerging markets" and the Australian dollar, said Sireen Harajli, FX strategist at Mizuho in NY.

The dollar index, which measures the greenback against a basket of six major rivals, touched its lowest since last September of 95.018.

Expectations for another Fed rate hike this year have been pared to less than a 50-percent probability after the latest US inflation print on Friday. The dollar had traded around the 113 handle for most of last week.

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