WRAPUP 5-China moves to lift confidence as economic growth hits weakest pace since 2009 [Reuters]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
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Source: Reuters
China moves to lift confidence as economic growth hits weakest pace since 2009 | Reuters 7 Min Read BEIJING (Reuters) - China’s economic growth cooled to its weakest quarterly pace since the global financial crisis, with regulators moving quickly to calm nervous investors as a years-long campaign to tackle debt risks and the trade war with the United States began to bite. Chinese authorities are trying to navigate through numerous challenges, as the trade war fears have sparked a blistering selloff in domestic stock markets and a steep decline in the value of the yuan versus the dollar, heightening worries about the growth outlook. The economy grew 6.5 percent in the third quarter from a year earlier, slower than 6.7 percent in the second quarter, the National Bureau of Statistics said on Friday. Analysts polled by Reuters had expected the economy to expand 6.6 percent in the July-September quarter. The GDP reading was the weakest year-on-year quarterly growth since the first quarter
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