Chinese stocks rise on GDP data

<p>The release of the latest GDP data has seen Chinese stocks boosted.</p>

Chinese stocks are up today (July 15th) on the back of the release of the latest economic growth figures for the Asian nation.

It was revealed that GDP rose by 7.5 per cent in the second quarter of the year, which is roughly in line with the predictions that had been made ahead of the release of the data.

With investors having feared the economic slowdown in China would be even worse, the Shanghai Composite was up 1.5 per cent after the figures came out, Business Insider reports.

Hong Kong's Hang Seng also grew and was up 0.4 per cent, while Korea's KOSPI was down 0.1 per cent and the Nikkei is closed for a day for a public holiday in Japan.

Economists had previously lowered their growth targets for the Chinese economy amid fears the Asian nation could be set to experience a major slowdown.

Yum Brands saw its profits fall last week, a result it attributed to a major fall in Chinese sales because of fears over a bird flu outbreak.

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