The Shanghai composite index is so far down 0.09 percent to 3,388.138 on Monday morning.
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China’s statistics bureau said on Monday that gross domestic product rose by 6.9 per cent in the third quarter on year, in inflation-adjusted terms, easing from 7 per cent growth on year in the first half and 7.3 per cent in the same period in 2014.
No panic was seen among mainland investors as the slowdown had always been priced in, analysts said.
China was the epicentre of last quarter’s global ructions, the most volatile for financial markets since 2011.
But many other sectors lost ground on profit-taking, reflecting concerns that the rebound could be losing steam as the economy is still struggling.
Panasonic (6752.T-JP) tanked 1.5 percent, while carmakers such as Nissan (7201.T-JP), Suzuki Motor (7269.T-JP) and Honda (7267.T-JP) slumped between 1 and 1.9 percent.
The Nikkei business daily reported Tokyo Electric Power will resume bond offerings in September 2016, marking its first debt issuance in six years.
It will be an enormous achievement for China if the world’s second-largest economy can grow at 6 to 6.5 percent over the next five years, said Bert Hofman, World Bank country director for China, Mongolia and Korea, on Monday.
In Australia, which counts China as its biggest export market, mining stocks were pulled down by slowing Chinese growth – dragging down the benchmark S&P ASX 200 index from the day’s highs to end the day flat.
Indonesia’s Jakarta Composite index was up almost 1%, while Malaysia’s KLSE Composite index was marginally lower and Singapore’s Straits Times index was down 0.1% despite an impressive lead from Wall Street.
Shares of Westpac (WBK) are up more than 3 percent as it resumed trading after being in a trading halt last week due to a capital raising.
Futures on the Standard & Poor’s 500 Index dropped 0.2 per cent to 2,022.25, after the USA benchmark ended Friday up 0.5 per cent at an eight-week high, capping a climb in the week of 0.9 per cent.
Among the major exporters, Sony (SNE) is adding 0.3 percent, while Toshiba is declining more than 2 percent and Canon is down nearly 1 percent. The Australian dollar (AUD=) also got an upward lift, traded at $0.7259 versus the greenback, compared with $0.7241 prior to the data releases. Energy stocks turned in a mixed performance, with Santos falling 1.4% while Woodside Petroleum advanced 2%.
The pan-European STOXX 600 rose sharply at the open, before paring its gains and trading up 0.4 percent.
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In other data released last Friday, the United States preliminary University of Michigan consumer sentiment in October was 92.1, besting the 88.8 forecast.
