July 15, 2024 at 03:32 am EDT
(MT Newswires) -- Chinese shares closed flat in positive territory as investors digested a slew of economic data that painted a mixed picture of the country's economic health.
The Shanghai Composite Index, the main gauge of Chinese stocks, marginally climbed to close Monday's session at 2,974.01. The Shenzhen Component Index slipped 0.6%, or 52.46 points, to 8,801.62.
China's economic growth cooled down in the second quarter, expanding by 4.7% year-on-year. This figure fell short of analysts' expectations and marked a deceleration from 5.3% in the previous quarter.
The mixed economic indicators have prompted market participants to adopt a cautious stance, weighing the potential impact on corporate earnings and government policy responses.
In June, retail sales growth slowed to 2% year over year from the 3.7% growth in May, and missing the 3.3% rise predicted by Reuters-surveyed analysts.
In the same month, China's industrial production grew 5.3%, lower than the 5.6% growth in May but sharper than the 5% expectation by Reuters-polled economists.
Additionally, fixed-asset investment growth was in line with analysts' expectations, reaching 3.9% in the first half of the year.
In corporate news, Hwatsing Technology (SHA:688120) jumped 5.8% at the close of trading after disclosing that it expects its first-half attributable net profit to rise 19% to up to 445 million yuan and operating income to climb by up to 23% to over 1.52 billion yuan.

Sumber : MT Newswires