SINGAPORE — Stocks in Asia-Pacific mostly traded lower Monday morning as investors reacted to the release of key Chinese economic data.
China’s gross domestic product grew 4.9% in third quarter, official data showed Monday. That was below expectations of analysts in a Reuters poll for a 5.2% expansion. Industrial production also missed forecasts, rising 3.1% in September, against expectations in a Reuters poll for a 4.5% increase.
Shares in Australia outperformed, with the S&P/ASX 200 advancing 0.38%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.1% lower.
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Shares of oil companies also advanced in Monday trade, with Australia’s Beach Energy up 2.42% while Santos climbed 0.75%. In Japan, Inpex’s stock surged 4.36%. Hong Kong-listed shares of CNOOC also gained 0.46%.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.008 after a recent weakening from above 94.2.
The Japanese yen traded at 114.02 per dollar, having weakened late last week from below 114.1 against the greenback. The Australian dollar changed hands at $0.7413, largely holding on to gains after last week’s climb from below $0.732.