Markets mixed, China GDP grows 2.3 percent in 2020

Markets were mixed on Monday.

The STOXX Europe 600 rose 0.2 percent and the Shanghai Composite rose 0.8 percent.

However, the Nikkei 225 fell 1.0 percent while the KOSPI plunged 2.3 percent after a report that Samsung heir Jay Y Lee has received a 2-1/2-year jail term.

The US stock market was closed for a holiday.

A report that China's GDP rose 2.3 percent last year, better than economists' expectations for just over 2 percent growth, helped lift market sentiment on Monday.

Many analysts remain upbeat on Chinese stocks.

“The core assets are not cheap based on the historical average, but they have not reached the extreme level in valuation,” said Zhou Jianhua, an analyst at Central China Securities. “The medium-term uptrend remains unchanged.”