Asian markets were mixed today (July 15th) after the release of data showing China's economy grew more than expected in the second quarter. China's National Bureau of Statistics said its economy expanded seven per cent year on year in April-June.
While most markets in the region welcomed the data, Shanghai and Hong Kong traded lower on fears this will hold off any further stimulus measures from the government.
Analysts also blamed the dip on ongoing volatility. Fraser Howie, director at Societe Generale Prime Services, told CNBC: "China's economy and its stock market are completely uncorrelated at the moment. There's been so much volatility in the market that the GDP print would have to be substantially different from estimates in order to change things."
Japan's Nikkei edged up 0.38 per cent to close at 20,463.33, while Sydney's ASX 200 jumped 1.05 per cent to close at 5,636.2. Seoul's Kospi gained 0.66 per cent to 2,072.91.
However, China's Shanghai Composite Index tumbled 3.03 per cent to 3,805.70 and Hong Kong's Hang Seng dropped 0.25 per cent to end at 25055.76.
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