Chinese stocks eased today on corrective profit selling after hitting near 13 month highs yesterday. Sentiments in global markets were lax ahead of the extended weekend owing to the Easter holiday. Weak commodity prices also hurt the risk sentiment for global stocks today. The Shanghai composite eased 0.4% to close at 3,250.20 while Shenzhen composite declined 0.58% to end at 1,762.30. Chinese stocks saw upbeat moves yesterday on a raft of supportive data releases. China gross domestic product expanded a seasonally adjusted 1.4% on quarter in the first quarter of 2019, National Bureau of Statistics says, down from 1.5% in the three months prior. However, On a yearly basis, China GDP expanded at a steady clip of 6.4% - unchanged from Q4. China retail sales climbed 8.7% on year in March, up from 8.2% in February while industrial output expanded 6.5% year on year in the first quarter of 2019. In March alone, the industrial output increased 8.5% year on year, a record-high since July 2014.
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