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Asian stocks mixed after government reduces growth target

Asian stocks were mixed on Tuesday as China reduced its growth goals, facing such problems as rising debt and trade and tech negotiations hovering with the U.S.

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Stock markets in Shanghai and Shenzhen, more directed to the domestic market, grew after the government’s post about its targets for this year, which presupposes a strong government support for the economy. The growth target for this year was reduced from 6.6 percent from last year to 6-6.5 percent for now.

Japan’s Nikkei slipped 0.44 percent to 3,393.17, while Hong Kong’s Hang Seng and China’s Shanghai Composite, as it was mentioned higher, jumped by 0.13 percent and 0.88 percent respectively.

South Korea’s Kospi fell by 0.52 percent, so did Australia’s ASX 200, having lost around 0.3 percent at 7.55 GMT.

Shares fell in Taiwan in 1999 by -0.43% and in most of Southeast Asia.

Chinese Premier Li Keqiang promised to increase spending on tech development, having not forgotten that Beijing also intends to a 7.5 percent increase in military spending.

The main focus in Asia still remains new progress in China-U.S. trade negotiations.


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