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New York Markets After Hours

Jan. 17, 2020, 7:13 a.m. EST

Chinese Economy Grows as Expected, Asia Higher

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Jan 17, 2020 (Baystreet.ca via COMTEX) -- Markets in Asia rose on Friday, as the release of China's gross domestic product (GDP) numbers showed growth was in line with analyst expectations.

In Japan, the Nikkei 225 index gained 108.13 points, or 0.5%, to close out the week at 24,041.26, a 15-month high.

Some auto stocks soared. Mazda surged 5.8%, while Suzuki Motor bounced 4%. Subaru jumped 4.3%, and Mitsubishi Motor added 2.5%.

The safe-haven Japanese yen was at 110.21 against the U.S. dollar, weakening from the 109 level for most of the week.

In Hong Kong, the Hang Seng index added 173.38 points, or 0.6%, to 29,056.42.

Korean stocks hit a 15-month high, as the Bank of Korea on Friday kept its benchmark rate steady at 1.25%, as expected. That followed two cuts last year.

Australian markets jumped as major miners rose. Rio Tinto jumped 1.8%, Fortescue Metals surged 3.7%. BHP Group advanced around 1.2%.

The Australian dollar edged back up to 0.6905, after falling to the 0.68 level earlier.


In Shanghai, the CSI 300 recovered 5.81 points, or 0.1%, to 4,154.85.

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