TOKYO (AP) — Asian shares mostly rose Monday, but benchmarks fell in Hong Kong and Shanghai after Beijing reported that the Chinese economy gained momentum in…
Asian shares mostly rose Monday, but benchmarks fell in Hong Kong and Shanghai after Beijing reported that the Chinese economy gained momentum in the last quarter.
Market watchers are keeping a cautious eye on inflationary pressures and any signs of risk for regional slowdowns.
The second-largest economy grew at a 3.9% annual pace, up from the previous quarter’s 0.4%, but that still was among the slowest expansions in decades as the country wrestled with repeated closures of cities to fight virus outbreaks.
Japan’s benchmark Nikkei 225 added nearly 1.0% in morning trading to 27,156.95. Australia’s S&P/ASX 200 gained 1.5% to 6,776.50. South Korea’s Kospi gained 1.1% to 2,238.00. Hong Kong’s Hang Seng lost 4.3% to 15,509.38, while the Shanghai Composite index shed 0.7% to 3,017.00.
In China, Xi Jinping awarded himself a third five-year term as leader of the ruling Communist Party.
