Asian shares fall as China data points to slowing growth
Monday, 16 July 2018 11:16 WIB | MARKET UPDATE |MSCI Asia PacificSaham Asia Indeks MSCI Asia Pasifik

Asian shares were lower on Monday after data from China showed the world's second-largest economy slowed slightly in the second quarter, and as investors remain cautious over the impact of the heated Sino-U.S. trade war.

Official data released Monday showed China's economy grew 6.7 percent in the second quarter of 2018, in line with market expectations, and cooling a bit from the 6.8 percent growth registered in each of the previous three quarters.

More worryingly perhaps, the data also showed slower-than-expected growth in China™s industrial output.

Taken together, the data point to an economy continuing to slow under the influence of a multi-year crackdown on excessive financial risk, even as trade war headwinds gather.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4 percent.

Australian shares were down 0.4 percent, and Seoul's Kospi lost less than 0.1 percent.

Japan's markets are closed for a holiday.

Source: Reuters

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