Sun, Jul 21, 2013 - Page 15 News List

Asian stocks static as risk from China offset by Fed

EVEN EXTERNALITIES:An IMF statement that China’s risk of slowdown is rising stoked concern, but Fed comments that it will keep its QE for now lifted spirits

Agencies, with staff writer

China’s economy, the world’s second-largest, expanded 7.5 percent in the three months to June 30, a report showed on Monday.

The IMF on Wednesday said risks are increasing that China’s economic growth will fall short of the institution’s 7.75 percent annual forecast as it urged the nation to follow reforms to sustain expansion.

“There appears to be very little to stop the growth slowdown in China,” Matthew Sherwood of Perpetual Investments said.

In other markets on Friday:

Manila closed 0.41 percent lower than on Thursday, giving up 27.33 points to 6,621.02.

Wellington eased 0.55 percent, or 25.08 points, to 4,538.31.

Mumbai rose 0.11 percent, or 21.44 points, to 20,149.85 points.

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