Overseas Trading: China GDP Lifts Global Stocks

China's GDP data was in line with consensus estimates, sending stocks in Asia and Europe higher

Jan 19, 2016 at 8:35 AM

Asian stocks ended the day higher, with Chinese markets leading the way. Specifically, the Shanghai Composite soared 3.3% amid a round of well-received economic data, including in-line fourth-quarter and full-year gross domestic product (GDP) readings of 6.8% and 6.9%, respectively. Meanwhile, Japan's Nikkei advanced 0.6%, helped by upbeat comments from economics minister Akira Amari, who blamed stock weakness on external factors -- especially crude oil's decline. Rounding things out, Hong Kong's Hang Seng gained 2.1% and South Korea's Kospi added 0.6%.

China's GDP is proving a boon to European stocks, as well, with commodities leading the charge higher. Traders are also looking ahead to Thursday's European Central Bank (ECB) meeting, where policymakers are expected to reiterate their dovish stance. At last check, London's FTSE 100 and Germany's DAX are each up 2.2%, and the French CAC 40 is 2.6% higher.

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