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Asian markets rise after upbeat Chinese GDP data

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A raft of Chinese data that easily beat expectations provide support as they indicate policy stimulus may finally be gaining traction

17 April 2019 - 09:08A pedestrian walks past an electronic stock board displaying the Nikkei 225 Stock Average and the Shanghai Stock Exchange Composite index in Tokyo, Japan. Picture: Bloomberg/Tomohiro Ohsumi

More importantly industrial output surged 8.5% in March from a year earlier, blowing away forecasts of a 5.9% increase. Retail sales also pleased with a rise of 8.7%. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2% to near its highest since July. In currency markets, the dollar finally managed to top resistance on the yen at 112.13 to reach its highest since December at 112.16. It was last at 112.02.

 

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