China’s economy has slowed down significantly in the latest quarter, amid the tensions and uncertainties surrounding the tariffs imposed on the nation by President Donald Trump.
China’s Growth Slows Amid Tariffs
The world’s second-largest economy grew at its slowest annual pace in a year, with its third-quarter GDP growth, for the months between July and September, coming in at 4.8%. This is down from 5.2% the prior quarter amid escalating trade tensions and slacking domestic demand, according to a report by APNews.
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Despite this, the nation’s exports have held strong, as Chinese companies have begun moving their sales to other global markets.
US Stock Futures Inch Higher, Asian Markets In The Green
Hong Kong’s Hang Seng index is up 2.47% on Monday, trading at 25,870.32, while the mainland’s CSI 300 Index is up 0.80%, at 4,550.33. The Shanghai Composite index is up 0.69% on the news, trading at 3,866.09.
The S&P 500 futures are up 0.23% or 15.25 points at 6,717.75, Nasdaq futures are up 79.25 points, or 0.32%, trading at 25,065.25, followed by Dow Futures, up 0.17%, or 77 points at 46,460.00.
Meanwhile, Japan’s Nikkei 225 is up 2.52% on Monday morning trade, at 48,970.40, with electrical, manufacturing and export-oriented stocks leading the rally.
Gold, US Dollar Head Higher
The U.S. Dollar Index (DXY) is largely flat, trading up 0.02% on Monday, and is up 1.15% over the past month, despite the escalating trade tensions between the U.S. and China.
Gold’s spot price is up 0.05%, trading at $4,256 an ounce, down from its all-time high of $4,379.60 an ounce, which it hit last week.
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