European stocks open lower as China posts slowest growth in nearly three decades

Monday, 21 January 2019 15:17 WIB

Stoxx 600Saham EropaStoxx Europe 600


European stocks opened lower on Monday, after fresh data from China showed its economy grew at its slowest pace since 1990.

The pan-European Stoxx 600 index sank 0.3 percent as traders kicked off Monday's session, with most sectors and major bourses in the red.

Market players monitored news of slowing growth in the world's second-largest economy. Official data published Monday said China's gross domestic product (GDP) in 2018 grew 6.6 percent from the previous year, in line with analyst expectations but at its most sluggish rate in almost three decades.

It's the latest sign of weakness in the Chinese economy, and comes at a critical time in Beijing's trade battle with the United States. The two countries have been locked in a tense sparring of tariffs since the start of last year, but are currently trying to prevent any further escalation over the course of a 90-day truce.

Source: CNBC




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