Sydney — Asian markets kept their nerve on Monday as data showed the Chinese economy slowed at the end of 2018, underlining the urgent need for more stimulus as Beijing wrestles with the US over trade. Investors are also waiting to hear British Prime Minister Theresa May’s plan B for Brexit, which is due to be presented to parliament later on Monday. The world’s second-largest economy grew 6.4% in the fourth quarter from a year earlier, as had been expected and matching levels last seen in early 2009 during the global financial crisis. Yet there were some bright spots with industrial output rising a surprisingly strong 5.7%, while retail sales rose 8.2% in December, from a year earlier. “Policy makers appear to be weighing up the medium-term risks of further debt growth against short term trends — hence the relatively modest stimulatory policy thus far,” said Gerard Bung, a senior economist at NAB. “They may be data dependent for a couple of quarters to make any large move,” he said...
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