Asian stock mixed, Europe drops

|By:, SA News Editor

Asian shares trade mixed but European shares are lower following data showing that Chinese growth slowed in Q4, although not by as much as expected. Volumes are light due to the holiday in the U.S.

The Shanghai Composite closes -0.7%, with sentiment also weighed down by another spike in money market rates as the seven-day repo rate increases to 6.4% from 5.2% on Friday.

The Nikkei ends -0.6% ahead of the start of a two-day policy meeting at the Bank of Japan meeting tomorrow. The BOJ is expected to maintain its huge asset-purchase program.

Elsewhere in Asia, the Hang Seng is -1% and India's Sensex is +0.4%.

In Europe, Deutsche Bank is the major name suffering losses as shares drop 3.7% after the bank reports Q4 losses.

EU Stoxx 50 -0.3%, London flat, Paris flat, Frankfurt -0.1%, Milan -0.2%, Madrid -0.3%.

U.S. stock futures: Dow flat. S&P flat. Nasdaq flat.