Beijing, China (BBN)-Chinese stocks are trading higher as third quarter growth data comes in slightly ahead of expectations.
The world’s second-largest economy grew by 6.9 per cent – below the official 7 per cent target but still better than widely predicted, reports BBC.
China’s growth data is closely watched as a major economic driver for the region as well as for the the global economy.
The country’s main index, the Shanghai Composite, was up by 0.3 per cent at 3,402.61 points.
In Hong Kong, the Hang Seng, though, fell by 0.3 per cent to 22,994.38.
The region’s largest market, Japan’s Nikkei index, was down 0.6 per cent at 18,177.43 points.
South Korea’s Kospi was flat in early trade at 2,030.08 points.
Stocks were also affected by the strengthening of the won currency affecting the results outlooks for export-oriented sectors such as cars and technology.
Shares in Kia Motors rose more than 1 per cent on news that sales in Europe were at a record high.
In Australia, the S&P/ASX 200 index also traded flat at 5,270.30 points.
Mining stocks were pulled down by the anticipation of slowing economic growth in China, with BHP Billiton, Rio Tinto and Newcrest all falling in early trade.
China is the biggest export market for Australian commodities.
The biggest rise in Sydney was Treasury Wine Estates, whose shares surged more than 11 per cent after last week’s news that the company will buy most of the wine business of Britain’s Diageo.