by Chris Becker
The big release in the Asian session today was the Chinese GDP print for the second quarter, up 6.7% year on year and above expectations. More importantly were the internals with industrial production and retail sales above expectations, although this officially good news hasn’t transpired to any movement on the Shanghai Composite which is dribbling along to finish Friday as a scratch session.
Local stocks did better on the release, with the ASX200 jumping up to 5460 points, but have given back most of that gain to finish up 0.3% for the day, but up over 3.5% for the week.