Asian shares lifted by stronger China growth numbers
Asian shares advanced on Monday after China reported its economy grew at a 4.9% annual pace in the last quarter, with consumer spending and industrial production rising to pre-pandemic levels.
- Hong Kong’s Hang Seng index HSI, 0.83% gained 0.7% while the Shanghai Composite SHCOMP, -0.71% slipped 0.3% and the smaller-cap Shenzhen Composite 399106, -0.70% retreated 0.2% as the relatively strong economic data doused the chances for major stimulus measures that might help boost markets.
- Japan’s Nikkei 225 NIK, +1.11% rose 1.2% while South Korea’s Kospi 180721, +0.22% advanced 0.8%. Stocks were about flat in Indonesia JAKIDX, 0.25%, but rose in Taiwan Y9999, +1.23% and Singapore STI, 0.46%. Australia’s S&P/ASX 200 XJO, +0.85% gained 1%.
- U.S. benchmark crude oil rose 10 cents to $41.22 per barrel in electronic trading on the New York Mercantile Exchange. It gave up 12 cents on Friday to $41.12 per barrel.
- Brent crude, the international standard, picked up 9 cents to $43.02.
- In currency dealings, the dollar rose to 105.46 Japanese yen from 105.40 on Friday.
- The euro slipped to $1.1708 from $1.1717.