China Rebounds after Volatile Morning

Stocks in Asia were mixed on Friday after China's Gross Domestic Product growth for the third quarter of 2018 came in below expectations.

In Japan, the Nikkei 225 lost 126.08 points, or 0.6%, to 22,532.08.

The Japanese yen was at 112.43 against the U.S. dollar after strengthening from levels above 112.5 yesterday.

In Hong Kong, the Hang Seng Index recovered 106.85 points or 0.4%, to 25,561.40

Australian markets recovered from most of its earlier losses but still closed slightly lower, with the heavily weighted financial sub-index seeing gains of 0.4%.

Shares of most Australian banks saw gains, with the exception of National Australia Bank, which saw a decline of 0.3% NAB's CEO Andrew Thorburn had earlier announced that about 300 of its staff had been fired or left the company following internal investigations into wrongdoing.

The Australian dollar was at $0.7106 U.S., following a decline from levels above $0.714 U.S. overnight.


China markets rebounded strongly, following a series of measures by China's securities regulator to support the struggling stock market.
The CSI 300 regained 90.56 points, or 3%, to 3,134.95

A selloff in the mainland Chinese markets had occurred during the previous session on Thursday, with the Shanghai seeing its lowest point since November 2014 on Thursday morning.

China released its GDP figures for the third quarter of 2018, which showed economic growth slowing to 6.5% year-over-year.

The latest GDP announcement by the world's second-largest economy missed expectations for a 6.6% in the quarter from July to September compared to a year earlier, according to analysts. That is the weakest pace since the first quarter of 2009.

In other markets

In Singapore, the Straits Times STI index fell 7.16 points, or 0.2%, to 3,062.51

In Taiwan, the Taiex index dropped 34.47 points, or 0.4%, to 9,919.26

In Korea, the Kospi index recouped 7.95 points, or 0.4%, at 2,156.26

In New Zealand, the NZX 50 subtracted 108.33 points, or 1.2%, to 8,802.26

In Australia, the ASX 200 gave up 2.92 points, or 0.1%, to 5,939.49