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    China's economy grew 4.5% in the third quarter, a touch ahead of forecasts

    Industrial output beat expectations, but weak retail sales show consumers are still holding back.

    HedgeWeekly News Desk ·

    China's gross domestic product grew 4.5% from a year earlier in the third quarter, slightly above the 4.4% expected in a Reuters poll. Industrial production rose 5.5% in September, while retail sales grew only 1.1%, a reminder that household spending remains soft.

    The yuan strengthened to about 6.68 per dollar, its strongest level since June 2022. The CSI 300 rose 0.1%. Elsewhere in Asia, South Korea's KOSPI bounced about 1.8% after last week's heavy tech losses, while Japan's Nikkei and Taiwan's Taiex each fell about 0.6%.

    Indonesia's market dropped about 3.6% in the morning session after MSCI said it was considering moving the country out of the emerging markets index into standalone status, a change that could trigger passive fund outflows.

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