China Stock Outlook Remains Muted With Stimulus Seen Limited
- Investors had already priced in weak figures, ANZ Bank says
- Gross domestic product shrank 6.8% on-year in first quarter
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For China traders fed up with markets doing nothing for days, even Friday’s set of historic economic data failed to give them a sense of direction.
The Shanghai Composite Index closed 0.7% higher, stuck near its 30-day average, on turnover that was about half the recent peak. The offshore yuan added 0.1% to also trade close to its average level for the past month. The yield on 10-year government debt hasn’t moved more than 4 basis points in either direction for a week.