Afternoon update: ASX up 0.16% following China’s Q3 economic performance

The S&P/ASX 200 is trading 0.16 per cent higher at 7,067.40.

Futures

The SPI futures are down 1 point.

Best and worst performers

The best-performing sector is Energy, up 1.6 per cent. The worst-performing sector is Information Technology, down 1.18 per cent.

The best-performing large cap is Northern Star Resources (ASX:NST), trading 2.57 per cent higher at $11.57. It is followed by shares in Evolution Mining (ASX:EVN) and QBE Insurance Group (ASX:QBE).

The worst-performing large cap is Newcrest Mining (ASX:NCM), trading 6.32 per cent lower at $25.20. It is followed by shares in Mercury NZ (ASX:MCY) and Infratil (ASX:IFT).

Asian markets

China's economic performance in September and Q3 disappointed, with GDP growth at 4.9 per cent, below expectations and the previous quarter's 6.3 per cent. Despite some positive signs in industrial production and retail sales, weak domestic demand and deflationary pressures persist, as both exports and imports declined.

China's Shanghai Composite is down 0.25 per cent.
Japan's Nikkei is down 0.21 per cent.
Hong Kong's Hang Seng is up 0.07 per cent.

Commodities and the dollar

Gold is trading at US$1,949.50 an ounce.
Light crude is trading $1.85 higher at US$88.51 a barrel.
One Australian dollar is buying 63.82 US cents.
Copyright 2023 – Finance News Network

Source: Finance News Network