Asian stocks dip due to weak Chinese GDP and Trump shooting, with positive Wall Street futures.

From Investing.com: 2024-07-14 23:05:17

Most Asian stocks dipped on Monday due to disappointing Chinese economic growth data and U.S. political uncertainty after an assassination attempt on former President Trump. Wall Street futures remained positive amid speculation over Trump’s potential role in the 2024 presidential race.

Chinese markets stayed flat, with Hong Kong’s index sliding 1.1% as China’s GDP growth fell to 4.7% in Q2 due to weak consumer spending. Concerns over economic growth and high unemployment weighed on sentiment as focus turned to the upcoming Chinese Communist Party meeting for stimulus clues.

Australia’s ASX 200 surged 0.8% to a record high, driven by banks and mining stocks like BHP Group and Rio Tinto. Despite underwhelming economic signals, Australian stocks benefited from investor interest in economically-sensitive sectors amid expectations of lower interest rates globally. Tech sector pivot also boosted market attractiveness.



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