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3 years ago
China shares eke out gains after GDP slightly beats estimates
April 16, 2014 / 7:31 AM / 3 years ago

China shares eke out gains after GDP slightly beats estimates

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BEIJING, April 16 (Reuters) - China shares closed a touch higher on Wednesday after slightly better-than-expected first-quarter growth data eased worries about a dramatic slowdown in the Chinese economy.

The Shanghai Composite Index ended up 0.2 percent at 2,105.12 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings rose 0.1 percent.

China's economy grew 7.4 percent in the first quarter from a year earlier, above expectations of 7.3 percent.

It was the slowest pace of growth in six quarters but still wasn't enough to raise expectations of further stimulus, limiting further impetus for stock market gains.

Mainland-listed securities firms outperformed, with several brokerages gaining more than 3 percent in early trade.

Founder Securities Co Ltd closed up 3 percent, Guoyuan Securities Co Ltd rose 2 percent and Industrial Securities Co Ltd gained 1.3 percent. (Reporting By Natalie Thomas; Editing by Chris Gallagher)

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