Asia-Pacific markets mixed after China’s fourth-quarter GDP beats estimates

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Night view of the Lujiazui financial district in downtown Shanghai.

Yongyuan Dai | E+ | Getty Images

Asia-Pacific markets traded mixed Friday as investors parse a slew of economic data out of China.

China’s economy expanded by 5% year on year in 2024, with an upswing in the final quarter of the year. The country’s fourth-quarter GDP beat expectations with a 5.4% growth.

China’s retail sales in December jumped 3.7% from a year earlier, exceeding Reuters’ forecast of 3.5%. Industrial output expanded 6.2% from a year earlier, versus expectations of 5.4%.

Hong Kong’s Hang Seng index traded 0.17% higher, and mainland China’s CSI 300 rose 0.29%.

Japan’s Nikkei 225 slipped 1.18%, while the Topix lost 1.28%. South Korea’s Kospi traded 0.5% lower while the Kosdaq shed 0.11%.

Australia’s S&P/ASX 200 added 0.1%.

Investors will also be looking at Singapore’s non-oil exports data for December.

Overnight in the U.S., the major averages gave up gains from earlier in the day with the S&P 500 slipping to end a three-day winning streak as big tech shares pulled back.

The broad market index slid 0.21% to 5,937.34. The tech-heavy Nasdaq Composite dropped 0.89% to 19,338.29. The Dow Jones Industrial Average fell 68.42 points, or 0.16%, to 43,153.13.

—CNBC’s Hakyung Kim and Sarah Min contributed to this report.

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