Chinese GDP grew 8,2 % last quarter. This is the slowest growth reported in China for the last three years. The numbers are in line with experts.

Expectations and far above the 7,5 % growth target set by Chinese authorities for 2012. The figures have been well received by the market. Both the Shanghai Composite and Hang Seng are up 1,6 %.

Observers see the numbers as an indication that the last couple of years gradual slow down of Chinese economic growth is coming to an end. That means that China is eventually succeeding in its efforts of changing its economy from export to a more consumer domestically based. The prospects for what has been called a “slow landing” seems within reach.

The Australian dollar fall on the slower growth numbers. Australia is a big commodity exporter to China. Copper also fall on the Chinese growth numbers. After stabilizing oil prices are up. NYMEX trading above 103 and Brent 121. Gold reached 1680 yesterday and is now trading at 1673. Silver is 32,27. EURO is trading at 1.3170 vs Dollar at the same level as yesterday’s close.

The South Korean Won and the Kospi index are both up following the failed North Korean rocket launch. The Yen is losing ground vs. dollar at 81.029 giving boost to Nikkei which is up 1,3 %.

Equity markets in Europe and the US continued to recover from early week’s big losses. The Dow Jones is again trading close to the psychological important 13 000 level up 1.41 %. Nasdaq is up 1.30 % at 3055.

European markets were helped by a more positive Italian bond auctions. The sovereign debt situation in Spain is continuing to give raise to big concerns, but were off the headlines yesterday.