ASIA-PAC MARKET WRAP: Asia trades mixed as region digests an inline, albeit slightly softer Chinese GDP growth

Asia equity markets traded mixed despite a mostly positive close on Wall St. where all 3 majors posted fresh intraday records and the DJIA extended above 23K powered by IBM’s best performance in 8 years, as the region also digested a slew of tier 1 Chinese data including Q3 GDP which slightly slowed. ASX 200 (Unch) and Nikkei 225 (+0.7%) were positive in which the latter outperformed as it coat-tailed on USD/JPY’s brief reclaim of the 113.00 handle. Conversely, Hang Seng (-0.2%) and Shanghai Comp. (-0.4%) were less enthusiastic as participants mulled over the latest Chinese data in which GDP met expectations but still slowed from prior and although Industrial Production and Retails Sales mildly topped estimates, Fixed Asset Investments grew at its slowest pace in nearly 18yrs. Finally, 10yr JGBs were flat for most the session with demand subdued amid the positive risk tone in Japan, although mild support was seen following a 5yr JGB auction in which the b/c rose from prior.

19 Oct 2017 - 05:55- Important- Source: RANsquawk

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