Asian shares were trading mixed Tuesday as pessimism about global uncertainties remained even as China reported a better-than-expected economic growth data.
Japan’s benchmark Nikkei 225 JP:NIK rose 0.6% in morning trading. Australia’s S&P/ASX 200 AU:XJO shed 0.3% and South Korea’s Kospi KR:180721 lost 0.3%. Hong Kong’s Hang Seng HK:HSI slipped 0.8%, while the Shanghai Composite CN:SHCOMP was little changed. Stocks rose in Indonesia ID:JAKIDX but slipped in Taiwan TW:Y9999 and Singapore SG:STI.Japan’s benchmark Nikkei 225 JP:NIK rose 0.6% in morning trading. Australia’s S&P/ASX 200 AU:XJO shed 0.3% and South Korea’s Kospi KR:180721 lost 0.3%.
China’s first-quarter gross domestic product, which measures the value of a nation’s products and services, rose a better-than-expected 4.5%, according to official statistics. Analysts had expected 4% growth, following a 2.9% growth in the last quarter of 2022. Still, some analysts remained cautious.
Analysts say new trade patterns will emerge since markets have been rocked by various political uncertainties such as the war in Ukraine, threatening supply chains and triggering fluctuations in consumer prices and moves by the world’s central banks.The S&P 500 SPX rose 13.68, or 0.3%, to 4,151.32. The Dow Jones Industrial Average DJIA gained 100.71, or 0.3%, to 33,987.18, while the Nasdaq composite COMP climbed 34.26, or 0.3%, to 12,157.72.
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