Japan had its best week since 2009 on stimulus hopes and strong China data
Stock markets in Asia closed mostly higher to
cap off a strong week, thanks in part to positive economic data out of China. This included a 6.7% year-over-year increase for the country's second-quarter gross domestic product (GDP), which edged out expectations. Retail sales, industrial output, and fixed-asset investing also impressed. China's Shanghai Composite, however, finished in the red, down 0.01%.
Japan's Nikkei finished 0.7% higher, marking its best week since 2009, with a 9.2% weekly gain. An outstanding performance for
Japan-based Line Corp (NYSE:LN) in its first session helped push the index higher, as did further gains from Nintendo, which continues to storm higher following the release of its
"Pokemon Go" app. Elsewhere, Hong Kong's Hang Seng ended the day up 0.5%, and South Korea's Kospi added 0.4%.
European stocks are lower at midday following an attack in Nice, France, that killed at least 84 people when a man drove a truck through a crowd gathered to watch Bastille Day fireworks. Travel stocks are among the worst-performing names as a result, with French President Francois Hollande saying the attack was of terrorist nature. At last check, London's FTSE 100 is off 0.2%, France's CAC 40 is down 0.4%, and Germany's DAX has dropped 0.1%.
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