Chinese Shares Hike on Better-than-Expected Economic Growth

Chinese Shares Hike on Better-than-Expected Economic Growth

On Monday, Chinese shares elevated against their peers in the Asia-Pacific region as the world’s second-largest economy posted a better-than-expected growth.

The benchmark Shenzhen Component soared 1.49% or 211.44 points to $14,362.01 per share.

Accordingly, software companies led gains in the index. Business intelligence of Oriental Nations Corp. rocketed 17.87% or 0.31 points to $2.03 per share.

Likewise, Beijing Jensen Tech Co. boosted 15.26% or 0.17 points to $1.27 per share.

Then, Beijing Tongtech Co. rallied 12.33% or 0.60 points to $5.47 per share.

Eventually, the Shanghai Composite index also gained 0.66% or 23.37 points to $3,544.63 per share.

Guilin Fuda, an auto components manufacturer, soared 10.06% or 0.13 points to $1.40 per share.

Similarly, IT services provider Teamsun Technology widened 10.04% or 0.11 points to $1.19 per share.

Fortune Ng Fung Food Hebei, a food processing business, also jumped 10.04% or 0.14 points to $1.54 per share.

Accordingly, Chinese shares benefited from the upbeat gross domestic product in the fourth quarter of 2021.

China’s National Bureau of Statistics revealed that the GDP edged up 4.00% year-over-year between October and December.

It surpassed the average market estimate of 3.60% but declined from the previous 4.90% result.

Still, the economic figure significantly pushed gains to Chinese shares as the country contrasted expectations of a slowdown in growth.

Chinese Shares Rose on Asia-Pacific Mixed Trading

Meanwhile, other shares in the Asia-Pacific struggled for direction.

Following the trend of Chinese shares, Japan’s Nikkei 225 index climbed 0.74% or 209.24 points to $28,333.52 per share.

The broader TOPIX also strengthened 0.46% or 9.05 points to $1,986.71 per share.

In addition, Australia’s S&P/ASX 200 increased 0.32% or 23.40 points to $7,417.30 per share.

Meanwhile, South Korean shares faltered as KOSPI sharply declined 1.19% or 34.83 points to $2,887.09 per share.

Correspondingly, Hong Kong’s Hang Seng index shed 0.66% or 160.99 points to $24,222.33 per share.

Read also: GtradEX Review 2021: Read Before You Invest!

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