Bitcoin, Korea’s Kospi and Nasdaq futures rally as China GDP beats estimates
Source: CoinDesk ·
From the source
Bitcoin, Nasdaq futures and Asian stocks rally as stronger-than-expected China GDP and falling oil prices lift risk appetite. Financial markets are a sea of green on Monday as upbeat China data and lower oil prices revive investor risk appetite. Starting with bitcoin. The leading cryptocurrency by market value was trading around $82,500 at the time of writing, up 0.7% since midnight UTC and 1.3% over the past 24 hours. Nasdaq futures rose more than 1%, alongside a 1.8% gain in Japan’s Nikkei and a 0.6% advance in South Korea’s Kospi. Those markets took a beating last week, led by losses in AI-related shares. Elsewhere, Chinese stocks were up 0.3%. Gold was largely unchanged near $4,180, while the Dollar Index held near Friday’s lows, below 102. China’s gross domestic product (GDP) grew 4.5% year on year in the third quarter, according to data from the National Bureau of Statistics released Monday. That was faster than the second quarter’s 4.3% pace. Other data also pointed to…