The ASX200 closed down 0.2% at 8,310 points.
China’s latest economic data beat estimates.
GDP growth accelerated to 5.4 per cent year-over-year for the December quarter, up from 4.6 per cent in the September quarter and well above consensus of 4.0 per cent.
Back home, Financials was the worst performing sector, down 1%, followed by Telecommunication, down 0.7% and Real Estate, down around 0.1%.
Industrials was the biggest winner, up 0.75%, followed by Utilities, up 0.5% and Staples, up 0.33%.
In the Green
Insignia Financial (ASX:IFL) closed up 6.5% after receiving an upgraded takeover offer from CC Capital Partners.
Insignia Financial closed at $4.43.
Lovisa (ASX:LOV) closed up 7.7% after Morgan Stanley upgraded the company to an overweight rating with a price target of $33.25.
Lovisa finished the session at $29.28.
Telix Pharmaceuticals (ASX:TLX) closed up 3.1% after it received a positive decision on the Marketing Authorization Application (MAA) for it prostate cancer PET1 imaging agent.
Telix Pharmaceuticals wrapped up at $26.59.
In the Red
4DS Memory (ASX:4DS) closed down 4.9% after it raised $6 million from institutional and high net worth investors.
4DS Memory closed at 3.9 cents.
REA Group (ASX:REA) closed down 2.7% after analysts at Morgans held firm with their hold rating and $215.00 price target.
REA Group called it a day at $230.12.
Rio Tinto (ASX:RIO) closed down 0.7% following reports from Bloomberg that the miner was holding talks with fellow mining giant Glencore about merging their businesses, a combination that would leapfrog BHP as the world’s largest mining group.
Rio Tinto closed at $118.74.