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Sept. 15, 2020, 12:03 a.m. EDT

Asian markets mixed as China reports encouraging economic growth

Stocks dip in Tokyo, but edge up in Hong Kong and Shanghai

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By Marketwatch


AFP/Getty Images
Shipping containers are stacked at a port in Qingdao, China. New data showed China’s economic recovery sped up in August.

Asian markets were mixed in early trading Tuesday, after Wall Street rebounded from a rough week and China indicated its economic recovery sped up last month.

Japan’s Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK -0.71%   fell 0.6% while Hong Kong’s Hang Seng index /zigman2/quotes/210598030/delayed HK:HSI -1.25%   rose 0.6%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.70%   advanced 0.3% and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.40%   gained 0.5%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.50%   rose 0.6% while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -1.07%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.71%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.31%   were mixed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.40%   was flat.

China reported Tuesday that retail sales returned to growth in August for the first time in 2020, rising 0.5% year over year. Industrial production also rose 5.6%, up from the previous month and topping analysts’ estimates.

“The activity data is about as strong a signal one could expect and will continue to support the steady economic growth recovery,” Stephen Innes, chief global markets strategist at AxiCorp, wrote in a note. “Assuming that COVID -19 remains under control in China, it should be safe to say activities will recover further amid supportive policies paving the way for a continuing and convincing growth rebound.”

Investors are also awaiting economic projections from the U.S. Federal Reserve at its policy meeting on Wednesday.

On Monday, the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -3.43%   rose 327.69 points, or 1.2%, to finish at 27,993.33, after briefly trading above the 28,000 threshold. The S&P 500 /zigman2/quotes/210599714/realtime SPX -3.53%   added 42.57 points, or 1.3%, closing at 3,383.54. The Nasdaq Composite /zigman2/quotes/210598365/realtime COMP -3.73%   climbed 203.11 points, or 1.7%, to end at 11,056.65, snapping a two-session losing streak.

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,252.87
-165.64 -0.71%
Volume: 0.00
Oct. 29, 2020 10:47a
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,400.10
-308.70 -1.25%
Volume: 247,328
Oct. 29, 2020 9:52a
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,246.34
-22.90 -0.70%
Volume: 4.09B
Oct. 29, 2020 9:52a
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,230.07
-9.04 -0.40%
Volume: 8.08B
Oct. 29, 2020 9:52a
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,310.02
-35.24 -1.50%
Volume: 233,151
Oct. 29, 2020 10:47a
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
12,657.34
-136.41 -1.07%
Volume: 0.00
Oct. 29, 2020 9:47a
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,465.86
-17.62 -0.71%
Volume: 0.00
Oct. 29, 2020 9:52a
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,128.23
-15.82 -0.31%
Volume: 0.00
Oct. 27, 2020 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,972.80
-84.90 -1.40%
Volume: 311,156
Oct. 29, 2020 12:47p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
26,519.95
-943.24 -3.43%
Volume: 499.63M
Oct. 28, 2020 5:11p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,271.03
-119.65 -3.53%
Volume: 3.15B
Oct. 28, 2020 5:11p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
11,004.87
-426.48 -3.73%
Volume: 3.46M
Oct. 28, 2020 5:16p
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