Shanghai Composite Index closed 1.3% lower, the biggest one-day drop in a month

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      China's stock market closed lower on Friday, recording its biggest one-day decline in a month as China's third quarter GDP data fell short of expectations, deepening concerns about the health of the economy in the context of a trade war.
CSI300 closed 1.42% lower at 3869.38, while Shanghai Composite Index. SSEC closed 1.32% lower at 2938.14, with the two weekly indexes down 1.1% and 1.2%, respectively.
China's gross domestic product (GDP) rose 6% year-on-year in the third quarter of this year, less than the median 6.1% predicted by Reuters, the lowest quarterly GDP since records began in 1992, the National Bureau of Statistics said on Friday. GDP in the first three quarters grew 6.2% year-on-year.
Weak data released by China in recent months highlights weak demand at home and abroad. But most analysts said there was limited scope for strong stimulus measures in China as the debt burden increased after the previous easing cycles.
"Given that exports are unlikely to pick up and real estate is likely to slow, China's economy is likely to continue to face downward pressure, with growth likely to fall to 5.9% in the fourth quarter," said Nie Wen, Macro Analyst at Huabao trust.
"The authorities will relax policy, but will be more restrained."
Some analysts also believe that the latest figures are not too unexpected.


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