China has officially posted an annual GDP growth of 2.3% in 2020, making it one of the few economies that recorded an expansion amid the global pandemic.
ASX set to drop as virus casts shadow
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Australian shares are poised to begin the year lower, with a focus on local virus cases and their impact on the outlook for the economy.
ASX futures were down 80 points or 1.2 per cent to 6537. In contrast, the currency ended flat in New Year s Eve trading in New York, though it traded as high as US77.42¢ at one point.
All three US benchmarks rose on the final session of trading for 2020 on Wall Street with both the Dow and S&P 500 closing at record highs. The Nasdaq closed short, though within reach, of its record high.