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Asia shares mixed ahead of China growth data

Hong Kong - Asian markets were mixed on Tuesday as investors consolidated the previous day's hefty gains despite a healthy lead from Wall Street, while investors await the release of key Chinese data.

After the wilds swings of last week that were fuelled by global growth fears, shares seemed to be back on a more even keel as the region's earnings season approaches.

Tokyo eased 0.60% after surging almost 4% on Monday, while Seoul eased 0.11% but Sydney added 0.11%. Hong Kong and Shanghai were flat.

Stocks surged on Monday in response to Friday's Wall Street advance that was propelled by bargain hunting and upbeat US corporate results.

However, another day of gains in New York was unable to give the same lift to Asia on Tuesday. The Dow rose 0.12%, the S&P 500 added 0.91% and the Nasdaq jumped 1.35%.

"The market corrected," said Peter Cardillo, chief market economist at Rockwell Global Capital in the United States. Last week's steep losses "sort of cleared the decks for the markets to focus on the economy and, above all, on earnings".

Eyes are now on the release of China's gross domestic product figures for the July-September quarter, with many fearing another slowdown in the world's number two economy and key driver of global growth.

A survey of 17 economists by AFP projects growth of 7.2%, China's slowest rate since the depths of the global financial crisis more than five years ago.

The government will also unveil data for September on industrial production, retail sales and fixed asset investment.

On currency markets the dollar was at ¥106.95 early on Tuesday, compared with ¥106.92 in New York on Monday afternoon.

The euro bought $1.2790 and ¥136.80 against $1.2800 and ¥136.86.

Gold was at $1 246.21 an ounce against $1 244.57 late on Monday.
 

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