Asian markets end on a mixed note; Chinese stocks higher after its GDP number

17 Jan 2022 , 03:05 PM

Asian markets closed mixed on Monday as economic data out of China showed the world’s second-largest economy grew faster than expected between October and December. Asian markets started the week on a cautious note ahead of the US earnings season.

The Shanghai Composite added 0.58% to 3,541.67 while the Shenzhen Component gained 1.51% to 14,363.57. The Nikkei 225 rose 0.74% to 28,333.52 while the Topix index added 0.46% to 1,986.71. The Kospi slipped 1.09% to 2,890.1 and the Hang Seng index declined 0.68% to 24,218.03.

Meanwhile, U.S. markets are closed Monday for Martin Luther King Jr. Day.

On the economy front, the Chinese economy grew by 8.1% in 2021. In the fourth quarter, China’s GDP rose 4% from a year ago with Industrial production rising but retail sales had a more muted growth.