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China GDP Data sees Shanghai Stocks drop to 6 Month Low

Mainland shares dropped below the 2,000 mark for the first time in six months on Monday despite better-than-expected fourth-quarter gross domestic product (GDP) data.

The world’s second-largest economy grew 7.7 percent in the final three months of 2013, higher than market expectations for a 7.6 percent gain, but that was still below the previous quarter’s 7.8 percent reading. Other data released on Monday showed industrial output grew an annual 9.7 percent, slightly below estimates while retail sales met expectations.

“China can deliver whatever number they want, the important thing is China trying to change. Can they restructure while keeping growth rates – not so much GDP but more personal income growth rates – at a reasonably high level, that’s the dilemma for 2014,” said Viktor Shvets, Head of Strategy Research, Asia at Macquarie.

CNBC [1]

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