Asia Market Wrap

- Asia's equities were mixed on Tuesday, with most benchmark indexes trading in a narrow range following the announcement of China's latest growth figures.

- Japan's stocks gained, snapping a 2-day losing trend, while South Korean and Australian stocks declined. With US markets closed on Monday, futures contracts for the S&P 500 declined. A global equity index traded flat, indicating that the rise that has propelled it to the strongest start to a year since 1988 has paused.

- Stock trading in Hong Kong and the Chinese mainland China's economy grew at the second weakest rate since the 1970s last year, as trade restrictions weighed on activity. However, a better-than-expected 4Q and December numbers add to hope that the economy is on the mend.

- Goldman Sachs and UBS Group are among those optimistic about the rebound, as the restart of activity in China promises to unleash over $836 bln in surplus savings and may help soothe fears of a global downturn as other central banks continue to tighten policy. A scheme by Chinese financial regulators and the country's largest bad-debt management businesses to help high-quality developers may further boost sentiment.

- The yen slipped 0.2% versus the dollar as traders considered the possibility of a policy shift by the BoJ on Wednesday. The country's 10-yr yield climbed beyond the central bank's ceiling for the third day, as traders increased their bets that the central bank will change its yield-curve control strategy. The dollar remained mostly unchanged, but treasury yields rose across the board.