Asian markets mixed on China data and central bank decisions

What happened: Asian markets traded mixed this week, driven by a mix of Chinese economic data and central bank decisions. On Monday, markets reacted to China's GDP growth rate slowing to 4.9% in Q2, its lowest in two years. The dollar strengthened on bets that Donald Trump will win the U.S. presidency, while gold and oil prices fell. On Tuesday, Chinese trade data beat expectations, boosting markets, while Brent crude prices surged towards $86 a barrel. The Bank of Japan and Federal Reserve rate decisions due this week also kept investors on edge.

Market impact: The mixed data from China led to varied performance across Asian markets. Tech and consumer sectors, sensitive to economic growth, were impacted. The Shanghai Composite Index flirted with the 3,300-point level, while the Nikkei index saw profit-taking after hitting a record high. Commodities, particularly oil, saw significant price movements due to geopolitical tensions and Chinese trade data.

What to watch next: Investors should closely monitor the Federal Reserve's interest rate decision on Wednesday, which is expected to be a 75 basis point hike. The U.S. Q2 GDP annualized growth rate, due on Thursday, will provide further insight into the health of the global economy. Additionally, Chinese industrial profits data, scheduled for release on Monday, July 24, will give another read on the state of the world's second-largest economy.