Bitcoin, Kospi and Nasdaq futures rise on stronger Chinese GDP data

Financial markets turned positive on Monday, driven by encouraging Chinese economic data and lower oil prices that boosted investor confidence.

Bitcoin, the leading cryptocurrency by market cap, was changing hands near $82,500, up 0.7% since midnight UTC and 1.3% over the previous day. Nasdaq futures climbed more than 1%, while Japan’s Nikkei rose 1.8% and South Korea’s Kospi gained 0.6%. After a tough week marked by steep declines in AI‑related stocks, the gains reflect a rebound in risk sentiment.

Chinese equities were up 0.3%, gold remained roughly flat near $4,180, and the Dollar Index hovered close to Friday’s lows, staying below the 102 mark.

China’s third‑quarter GDP expanded 4.5% year‑over‑year, outpacing the second quarter’s 4.3% growth, the National Bureau of Statistics reported on Monday. The data underscored strengthening domestic demand, with retail sales of consumer goods climbing 1.1%—more than double the 0.5% forecast and up from a 0.4% rise the prior month.

Source link