Hong Kong’s Hang Seng index tumbled 3.8% after the GDP numbers were released, while Hong Kong's Hang Seng Tech Index shed 5%. Nio fell 10%, Bilibili declined 7%, JD.com dropped 5%, Alibaba and Tencent fell 3%.
China’s economy grew 5.2% in the October to December quarter, China’s National Bureau of Statistics said Wednesday. That’s below expectations of a 5.3% growth forecast by economists in a Reuters poll.
China on Wednesday also resumed releasing official data on its youth unemployment rate after a six-month suspension. Under a new methodology which excludes students from the jobless rate, unemployment for those aged between 16 and 24 stood at 14.9%, an improvement from the record-high youth jobless rate of 21.3% in June using the previous methodology.