Asian Shares Mixed As China Admits Slow Growth

Asian shares were mixed Tuesday, Jan. 17, 2023, after China reported its economy expanded at a 3% pace last year, less than half 2021′s rate, Elaine Kurtenbach reported for the Associated Press (AP).

Photo Insert: Hong Kong’s Hang Seng index lost 1.2% to 21,489.18 and the Shanghai Composite index edged 0.2% lower to 3,222.23.

Hong Kong’s Hang Seng index lost 1.2% to 21,489.18 and the Shanghai Composite index edged 0.2% lower to 3,222.23. In Seoul, the Kospi lost 0.9% to 2,379.39. Australia’s S&P/ASX 200 was barely changed, at 7,386.30.

Tokyo’s Nikkei 225 index gained 1.2% to 26,138.68. Bangkok’s benchmark was nearly unchanged.

On Monday, European markets gained after Germany reported inflation cooled in December. The DAX in Frankfurt gained 0.3% to 15,134.04 and the CAC 40 in Paris also added 0.3% to 7,043.31. Britain’s FTSE 100 edged 0.2% higher to 7,860.07.

In other trading Tuesday, US benchmark crude oil lost 60 cents to $79.26 per barrel in electronic trading on the New York Mercantile Exchange.

It gained $1.47 to $79.86 per barrel on Monday. Brent crude, the pricing standard for international trading, picked up 15 cents to $84.61 per barrel in London.

The dollar was trading at 128.87 Japanese yen, up from 128.53 yen. The euro slipped to $1.0820 from $1.0822.

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