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Asian shares mixed after China reports slowing growth

KVIA

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Shares are mixed in Asia after China reported that its economy expanded at an 8.1% annual pace in 2021, though growth slowed to half that level in the last quarter. Shortly before the growth data were announced, the Chinese central bank on Monday announced a rate cut on medium-lending to commercial banks to the lowest level since 2020. On Wall Street Friday, major indexes logged their second losing week in a row. The S&P 500 gained 0.1%. The tech-heavy Nasdaq added 0.6% and the Dow Jones Industrial Average lost 0.6%. Traders were disappointed to see that retail sales sank 1.9% in December.

Associated Press

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