Business

China's markets cheer the country's 2015 GDP numbers

Chinese markets Image copyright Getty Images

China's markets cheered the country's latest GDP numbers on Tuesday, which were in line with expectations.

The world's second-biggest economy grew by 6.9% in 2015, compared with 7.3% a year earlier.

The numbers mark its slowest growth in a quarter of a century, but that did little to rock investor sentiment.

Hong Kong's Hang Seng index closed up 2% at 19,635.81 points, while the mainland's Shanghai Composite wrapped the day 3.22% higher at 3,007.74.

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The benchmark Nikkei 225 reversed earlier losses to close up 0.55% at 17,048.37.

On Monday, Japanese shares hit a one-year low as oil prices dropped below $28 a barrel for the first time since 2003.

In Australia, while investors had traded cautiously earlier in the day, the benchmark S&P/ASX 200 closed up 0.91% at 4,903.10.

Some energy-related shares made gains on Tuesday, having fallen a day earlier on oil price worries.

BHP Billiton shares were up 0.7%, while Santos shares moved out of negative territory during the day to gain 1.9%.

In South Korea, the benchmark Kospi index also reversed earlier losses to close up 0.6% at 1,889.64.

Official numbers released on Tuesday showed producer prices in the country fell in December for the 17th month in a row. On a brighter note, however, the pace at which prices have been falling slowed.

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