Asian markets mixed despite robust GDP data

Global stocks mixed after Wall Street gains

Global stocks mixed after Wall Street gains

Chinese stocks staged a mixed performance Friday, with the benchmark Shanghai Composite Index rising 0.13 percent to close at 3,222.42 and the smaller Shenzhen Component Index closing 0.37 percent lower at 10,427.79. Down under, the S&P/ASX 200 traded below the flat line, edging down by 0.13%. The Kospi stood at 2,425.65 at 8:10 a.m. HK/SIN.

Japan markets were closed for Marine Day. June industrial output, fixed-asset investment and retail sales all surpassed estimates as well.

Beijing said the world's number two economy expanded 6.9 per cent in April-June, beating forecasts in an AFP survey, and indicating it is stabilising after a years-long slowdown.

Most other regional investors built on last week's solid gains, tracking fresh highs for the Dow and S&P 500 prompted by below-par United States inflation and retail sales data. The dollar index traded as low as 95.088 in the Friday session compared to a high of 95.834.

Lower expectations for a lift in USA interest rates rattled the dollar on Friday and the unit struggled to bounce back against the pound, euro and yen in Asia.

As the main hurdle to more tightening from the Federal Reserve, inflation is expected to play a decisive role in central bank policy and influence macro market direction this year, said OANDA senior trader Stephen Innes in a Monday morning note.

The MSCI All Country World Index rose a seventh day as China's economy maintained momentum last quarter, enhancing the allure of stocks after soft USA consumer price data reinforced the need for gradual tightening by the Federal Reserve.

Oil prices were moderately higher after settling up around 1 percent in the last session.

In individual stocks in Asia, Hyundai was down 1.95% following news that unionised workers at the company had voted to go on strike in reaction to a breakdown in wage negotiations. JPMorgan Chase, Citigroup and Wells Fargo kicked off earnings season by posting better-than-expected earnings.

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