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Global Stocks: Asian stock indices traded mixed
U.S. stock markets were closed on Monday for the Martin Luther King Jr. holiday.
On Friday the Dow Jones Industrial Average plunged 390.97 points, or 2.4%, to 15,988.08. The S&P 500 declined 44.85 point, or 2.3%, to 1,876.99 (all of its 10 sectors fell). The Nasdaq Composite lost 126.59 points, or 2.7%, to 4,488.42.
This morning in Asia Hong Kong Hang Seng rose 1.07%, or 205.20, to 19,442.65. China Shanghai Composite Index gained 2.51%, or 73.03, to 2,986.86. The Nikkei edged down 0.01%, or 2.38, to 16,953.19.
Asian stock indices traded mixed. Japanese stocks declined amid persistent declines in oil prices and concerns over the Chinese economy. Japanese economic and fiscal policy minister Akira Amari said that low oil prices could influence the economy of Japan in a negative way by hitting stocks.
Chinese stocks rose despite weak GDP data. The National Bureau of Statistics reported that economic growth slowed to 6.8% in the fourth quarter of 2015. Meanwhile the economy expanded by 6.9% over 2015, marking the weakest result since 1990.
Retail sales rose by 11.1% y/y in China in December compared to slightly faster growth of 11.2% in November.
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