Asian shares mixed after China reports slowing growth
ABC News
Shares are mixed in Asia after China reported that its economy expanded at an 8.1% annual pace in 2021, though growth slowed to half that level in the last quarter
BANGKOK -- Shares were mixed in Asia on Monday after China reported that its economy expanded at an 8.1% annual pace in 2021, though growth slowed to half that level in the last quarter.
Tokyo, Shanghai and Sydney rose, while Hong Kong and Seoul declined.
The weakness in China's economy toward the end of 2021 is prompting suggestions Beijing should intervene to prop up growth with interest rate cuts or by injecting money into the economy through public works spending.
Shortly before the growth data were released, the Chinese central bank announced a rate cut on medium-lending to commercial banks to the lowest level since 2020.
