According to the latest reports, the Asia-Pacific stocks have ended up experiencing a downtrend on Monday, August 16, 2021. The drop in the stocks on the Asia-Pacific stock exchanges was observed following the release of the economic data by China for the month of July 2021.
In the economic data, China revealed that it experienced a rise in its retail sales. The data shows that compared to the year 2020, there has been an 8.5% rise in retail sales. This information was provided by China in the economic data report on Monday, August 16, 2021.
Despite being higher than July for the year 2020, the sales have been lower than what the analysts had estimated for the particular month. According to analysts, retail sales were supposed to experience an 11.5% rise in the month of July 2021.
The Chinese economic data shows that in this particular month, industrial production has experienced a 6.4% growth. The data shows that in the month of July, the analysts had estimated that the sales from productions would increase by 7.8%.
On the other hand, the stocks for mainland Chinese have experienced mixed trends. According to margins, the Shanghai composite has been experiencing a rise at 3,517.34 points. On the other hand, the Shenzhen component has experienced a 0.712% fall, coming down to 14,693.74 points. When it comes to the Hang Seng index for Hong Kong, it has also experienced a 0.8% decline, coming down to 26,181.46 points.
Another major index worth mentioning here is the Nikkei 225. The data shows that the particular index has also experienced a drop. According to the index report, a 1.62% drop has been experienced for the Nikkei 225 index. As a result, the index has experienced a drop to 27,523.19 points.
Then there are companies such as SoftBank and Fast Retailing that have experienced a 2% drop each in terms of their stock prices. Another index known as Topix has experienced a drop of 1.61% in terms of its points. At the time of writing, Topix’s index points have come down to 1,924.98 points.
Despite the downfall, Japan has to share promising results in terms of its GDP growth. According to stats, Japan’s GDP has experienced a 0.3% rise, which has been achieved only in the second quarter of 2021.
However, Japan has revealed that it had expected to record a rise of 0.9% in its GDP in the second quarter of 2021. Although the GDP growth is lower than expected, the analysts are still glad that the GDP has finally started picking up.
This means that the economy has started making a comeback and the situation is now going to get better from this point onwards.