Asia-Pacific Stocks Mixed

Shares in Asia-Pacific were mixed on Monday as investors in the region reacted to Chinese economic data, including the country’s Gross Domestic Product print for the fourth quarter.

The Nikkei 225 dumped 276.97 points, or 1%, to 28,242.21

The Japanese yen traded at 103.73 per U.S. dollar, stronger than levels above 104.1 against the greenback seen last week.

The Hang Seng index in Hong Kong popped 288.91 points, or 1%, to 28,862.77.

Shares of firms related to South Korean conglomerate Samsung Group plunged in Monday trade after Reuters reported that Samsung heir Jay Y. Lee has received a 2-1/2-year jail term.

Samsung Electronics plunged more than 4% in Monday trade before clawing back from some of those losses, finishing their trading day 3.41% lower. Samsung C&T dived 6.84% while Samsung Heavy Industries declined 2.74%. The Seoul High Court found Lee guilty of bribery, embezzlement and concealment of criminal proceeds.

Singapore’s non-oil domestic exports grew 6.8% on a year-on-year basis in December, according to data released Monday. That was above a forecast by economists for a 0.3% increase.

The Australian dollar changed hands at $0.7679 following a slide late last week from levels above $0.775.

CHINA

In Shanghai, the CSI 300 hiked 60.44 points, or 1.1%, to 5,518.52

China reported its GDProse 2.3% last year as the world fought to contain the coronavirus pandemic. That compared against economists expectations for GDP expansion by just over 2%. Still, retail sales in the country declined, contracting 3.9% for the year.

Meanwhile, Reuters reported that the Trump administration notified several suppliers to Chinese telecommunications giant Huawei — including chipmaker Intel — that it is revoking certain licenses to sell to the Chinese firm. That comes just days ahead of U.S. President-elect Joe Biden’s inauguration on Wednesday.

In other markets

In Korea, the Kospi index lost 71.97 points, or 2.3%, to 3,013.93

In Singapore, the Straits Times slid 4.39 points to 2,990.40.

In Taiwan, the Taiex Index picked up 4.39 points to 15,612

In New Zealand, the NZX 50 skidded 186.34 points, or 1.4%, to 12,838.36.

In Australia, the ASX 200 dropped 52.4 points, or 0.8%, to 6,663.04.