Asian markets stage mid-session recovery

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It’s just ticked past midday here in Hong Kong, and it seems markets around the region have staged a recovery in the wake of this morning’s Chinese GDP numbers.

On the mainland, the Shanghai Composite is 1.6 per cent higher during the lunchbreak, while the tech-focused Shenzhen Composite is 1.4 per cent higher. The CSI 300, a blue chip benchmark, is up 1.4 per cent.

A little further away, Hong Kong’s Hang Seng is up 0.8 per cent, while the Hang Seng China Enterprises Index is 1.5 per cent higher.

Like most benchmarks around the region, the indices in China spent some of the morning session in negative territory. Japan’s Nikkei had turned around to be 0.1 per cent higher, while Australia’s S&P/ASX 200 is now up 0.8 per cent with a little over an hour to go before the end of the trading day in Sydney.

The price of Brent crude, the international benchmark, was 1.5 per cent higher at $28.99 a barrel, while West Texas Intermediate, its US counterpart, had trimmed its decline to be 0.2 per cent lower at $29.37.

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