Kospi climbs 0.69%, Asia stocks rise thanks to Chinas Q4 GDP growth of 7.9%

South Korea‘s Kospi rose 0.69 percent to 1,987.85 on Jan 18.

Kospi gained as China's statistics bureau announced that the country's gross domestic product (GDP) grew by 7.9 percent in the fourth quarter of last year from a year earlier. China's GDP growth rebounded after more than two years of slowdown.

Samsung Electronics soared 5.45 percent and Shinhan Group was up 2.03 percent. But Kia Motors and SK hynix slipped 1.45 percent and 1.16 percent, respectively.

Meanwhile, Kosdaq climbed 1.16 percent to 512.24. The exchange rate slipped 0.90 won to 1,057.20 per dollar.

Asia stocks rose. China’s Shanghai Composite Index gained 1.41 percent and Japan‘s Nikkei225 soared 2.86 percent.

By Lee Kyu-jin, staff reporter

AJP

Kospi climbs 0.69%, Asia stocks rise thanks to China's Q4 GDP growth of 7.9%