Asia Stocks Mixed as China Growth Data Assessed: Markets Wrap

(Bloomberg) -- Asian stocks began the week mixed as investors mulled Chinese economic data showing a pick-up in growth at the tail end of the second quarter, which saw the weakest GDP gain since the early 1990s. Shares in Hong Kong and Shanghai reversed declines as monthly activity data in retail and industrial production topped estimates, though indexes elsewhere remained lower. Futures on the S&P 500 Index were flat after the U.S. gauge climbed Friday to a fresh all-time high. Japan is closed for a holiday so equities won’t trade and Treasuries will be shut until the London open. Treasury futures were little changed after the yield on the 10-year note ended last week at 2.12%, near a one-month high.Chinese growth moderated to 6.2% last quarter from 6.4% in the first quarter. Later this week comes retail sales data in the U.S. and a slew of speeches by policy makers including Federal Reserve Chairman Jerome Powell. And earnings season gets under way too, with Citigroup Inc. on Monday.“We expect the PBOC will introduce more policy easing as more signs of growth weakness emerge in the coming months,” Xiaojia Zhi, China economist at Bank of America Merrill Lynch, told Bloomberg TV in Hong Kong.Elsewhere, Bitcoin has dropped 15% since Friday as criticism from President Donald Trump put focus back on this year’s surge. Here are some key events coming up:JPMorgan Chase & Co., Bank of America Corp., Goldman Sachs Group Inc. and Taiwan Semiconductor are among companies due to report results.U.S. June retail sales, due Tuesday, are expected to rise 0.2% from the prior month, which would be the slowest pace since February.Monetary policy decisions are due in Indonesia, South Korea and South Africa on Thursday.These are the main moves in markets:StocksFutures on the S&P 500 Index were little changed as of 11:32 a.m. in Hong Kong. The underlying gauge climbed 0.5% on Friday.Hong Kong’s Hang Seng Index gained 0.2%The Shanghai Composite rose 0.8%, erasing an intraday drop of 1.5%South Korea’s Kospi index declined 0.1%.Australia’s S&P/ASX 200 dropped 0.6%.CurrenciesThe yen rose 0.2% to 108.07 per dollar.The offshore yuan remained at 6.8773 per dollar.The euro bought $1.1271.BondsThe yield on 10-year Treasuries declined two basis points to 2.12% on Friday.Australia’s 10-year yield rose two basis points to 1.46%.CommoditiesWest Texas Intermediate crude fell 0.3% to $60 a barrel.Gold slipped 0.2% to $1,412.74 an ounce.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editor responsible for this story: Christopher Anstey at canstey@bloomberg.netFor more articles like this, please visit us at©2019 Bloomberg L.P.