TOKYO — Global shares were mixed on Thursday, with the Nikkei erasing earlier gains. Chinese indexes got a boost from news that the economy expanded at a robust 6.9 per cent annual pace in 2017.
KEEPING SCORE: France’s CAC 40 added 0.1 per cent in early trading to 5,501.09 and Germany’s DAX rose nearly 0.3 per cent to 13,219.70. Britain’s FTSE 100 lost 0.1 per cent to 7,715.20. U.S. shares were set to drift lower with Dow futures down nearly 0.1 per cent at 26,084. S&P 500 futures were also down nearly 0.1 per cent at 2,802.30.
ASIA’S DAY: Japan’s benchmark Nikkei 225 lost 0.4 per cent to finish at 23,763.37. Australia’s S&P/ASX 200 was little changed at 6,014.60 after zigzagging during the day, and South Korea’s Kospi inched up less than 0.1 per cent to 2,515.81. Hong Kong’s Hang Seng added 0.4 per cent to 32,121.94 while the Shanghai Composite jumped 0.9 per cent to 3,474.75. India’s Sensex climbed 0.9 per cent to 35,393.88. Shares in Taiwan and Southeast Asia were mostly higher.
CHINA FACTOR: China’s economy expanded at a 6.9 per cent pace in 2017, faster than expected and the first annual increase in seven years, according to government data. The numbers beat forecasts, including China’s growth target of 6.5 per cent. Growth in the fourth quarter held steady at 6.8 per cent, though it was a tick slower than the 6.9 per cent pace of growth in the first half of the year. Buoyant consumer spending helped drive the faster expansion, the report said.
THE QUOTE: “Economic growth in China probably slowed last quarter, even though the official figures paint a picture of continued stability,” Julian Evans-Pritchard of Capital Economics said in a commentary. “We have doubts about the accuracy of the official figures given how implausibly stable they have been in recent years.”
ENERGY: Benchmark crude fell 8 cents to $63.89 a barrel in electronic trading on the New York Mercantile Exchange. It added 24 cents to $63.97 per barrel on Wednesday. Brent crude, used to price international oils, fell 18 cents to $69.20 a barrel.
CURRENCIES: The dollar rose to 111.24 yen from 110.77 yen late Wednesday in Asia. The euro slipped to $1.2204 from $1.2207.
