Shares in Asia markets continued in a mixed session on Tuesday as China’s economy grew more than expected at 4.5% year-on-year, topping a Reuters poll of 4% growth.
The Shanghai Composite in mainland China fell 0.10% and the Shenzhen Component was slightly down as of 9.30 a.m. Bangkok time. After the report came out, the onshore Chinese yuan gained a little bit of value.
The Hang Seng Index in Hong Kong dropped by 0.67%.
Australia’s S&P/ASX 200 fell 0.26%, while South Korea’s Kospi fell 0.25%.
The Nikkei 225 index in Japan was up 0.50%, and the Topix index was up 0.73%, bucking the regional trend.
U.S. stock markets all gained ground overnight as investors digested the latest earnings reports for indications of corporate America’s resilience.
The Dow Jones Industrial Average increased by 0.3%, the S&P 500 added 0.33%, and the Nasdaq Composite climbed 0.28% to settle at 12,157.72.
China’s gross domestic product (GDP) climbed 4.5% in the first quarter of 2023, according to the National Bureau of Statistics.
That was faster than a Reuters poll’s 4% prediction and the fastest growth since the first quarter of last year. The economy grew 2.9% in the final quarter of 2022.
Retail sales surged 10.6% in March, beating Reuters’ 7.4% forecasts, while industrial output rose 3.9%, below Reuters’ 4%.