China will continue to command the market's attention this week, with its fourth-quarter and full-year gross domestic product (GDP) and other key economic data in the spotlight.
China's economy is largely expected to have decelerated further in the final quarter of 2015, on the back of slower growth in industrial production, fixed asset investment (FIA) and weaker trade. In an indication of the economic difficulties being felt, the People's Bank of China cut interest rates in the fourth quarter, its sixth cut in less than a year.
Economic growth for the three months to December-end is likely to come in 6.8 percent, compared to the same period the previous year, and down from 6.9 percent on-year growth in the third quarter, according to a Reuters poll. The poll showed economists expected China's full-year GDP growth to be 6.9 percent, down from 7.3 percent in 2014.
At the opening ceremony for the Asian Infrastructure Investment Bank just over a week ago, Chinese Premier Li Keqiang said that China's economy grew about 7 percent in 2015, with services accounting for half of GDP.
China's December industrial production, retail sales and fixed asset investment numbers will also be released on Tuesday.National Bureau of Statistics reported a 7.7 percent on-year rise in average new home prices across 70 major cities in December. This compared to a 6.5 percent increase in November. Property prices are closely watched as a sign of China's economic health.