The Shanghai Composite is up 1.5% despite the latest data confirming a slowdown in China.
This is because the lack of bad news, i.e. Q2 GDP of 7.5% in line with expectations, is good news.
Economists had been lowering their GDP forecasts ahead of the release.
Here’s a quick look at how other Asian markets are doing.
- Hong Kong’s Hang Seng is up 0.4%
- Korea’s KOSPI is down 0.1%
- Australia’s S&P/ASX 200 is up 0.2%
- The Nikkei is closed
Chinese GDP is up 7.6% in the first half of the year. Markets are watching to see if policymakers will move to support their 7.5% 2013 growth target.
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