Shanghai Composite up 0.09% at 2,974 points (Il Sole 24 Ore Radiocor) - Shanghai , 15 Jul - Chinese shares erased earlier losses and closed slightly higher after Friday's mixed session.

Investors hoped for more stimulus measures from Beijing after data showed that China's gross domestic product grew less than expected in the second quarter as weak consumer spending and demand weighed.

China's GDP rose 4.7% year on year in the second quarter, compared with a rise of 5.3% in the first quarter, according to the National Bureau of Statistics (NBS). Economists surveyed by AFP were expecting a 5.3% rise.

June retail sales also missed estimates, rising 2% at the lowest growth rate since the end of 2022 compared with a 3.3% growth forecast from Reuters.

Industrial production however rose 5.3% year-on-year in June, beating a Reuters' estimate of 5%.

Traders looked ahead to a meeting of China's political leaders from today until July 18 known as the Third Plenum, amid expectations that important economic measures could be announced during the event.

The much-anticipated policy meeting, a major gathering of the top members of the ruling Communist Party of China that typically happens only once every five years, is expected to focus on high local government debt levels and a push for advanced manufacturing.

The Shanghai Composite closed up 0.09% at 2,974 points, while the Shenzhen CSI 300 rose 0.11% to 3,476 points.

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(RADIOCOR) 15-07-24 10:52:21 (0194) 5 NNNN