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Asia stocks trade higher despite disappointing China data | |
(about 2 hours later) | |
Asia Pacific stock markets rose on Monday, shrugging off disappointing economic data released by China over the weekend. | |
China's industrial output, retail sales and fixed asset investment all grew more slowly than expected in April, indicating the economy remains weak. | China's industrial output, retail sales and fixed asset investment all grew more slowly than expected in April, indicating the economy remains weak. |
The Nikkei 225 index is up nearly 1%, while the broader Topix gained 0.1%. | |
The Shanghai Composite fell 0.5% while the Hang Seng index in Hong Kong rose 0.4%. | |
Australia's benchmark ASX/200 rose 0.6% and South Korea's Kospi index was trading flat on Monday. | |
China's National Bureau of Statistics said on Saturday that industrial output rose 6% year-over-year in April, compared with 6.8% growth the month earlier. | China's National Bureau of Statistics said on Saturday that industrial output rose 6% year-over-year in April, compared with 6.8% growth the month earlier. |
Fixed-asset investment grew by 10.5% in the January-to-April period, compared with an increase of 10.7% the year before. | |
Retail sales grew by 10.1% in April from a year earlier. They all missed market expectations. | Retail sales grew by 10.1% in April from a year earlier. They all missed market expectations. |
Vishnu Varathan from Mizuho bank said the activity data raised concerns about China's renewed slowdown and exacerbated "woes about global demand deficiency". |