2024-04-16 01:20:20 ET
-
China’s economy expanded 5.3% in the first quarter from a year ago, higher than the 5.2% seen in the previous quarter and beating expectations for a 5% growth, lifted by continued support measures from Beijing while a Lunar New Year festival also helped buoy consumer spending.
-
The Chinese economy grew by a seasonally adjusted 1.6% Q/Q in Q1 of 2024, quickening from an upwardly revised 1.2% increase in the previous quarter. It was the seventh consecutive period of quarterly expansion and the strongest advance since Q1 of 2023.
-
In addition, the country's statistics agency noted that the industry had performed better than expectations, as highlighted by recent data on PMIs.
-
The Shanghai Composite ( SHCOMP ) fell 0.8% to around 3,030 on Tuesday, with mainland stocks giving back gains from the previous session as stronger-than-expected Chinese GDP data dampened hopes for further policy easing.
-
ETFs: ( FXI ), ( KWEB ), ( CQQQ ), ( MCHI ), ( ASHR ), ( YINN ), ( TDF ), ( CHIQ ), ( GXC ), ( EWH ), ( KBA ), ( YANG ), ( CXSE ), ( CAF ), ( CWEB ), ( PGJ ), ( KURE ), ( CHIX ).
-
Currency: ( CNY:USD )
-
More on China
-
-
PBOC keeps one-year medium-term lending facility rate steady at 2.5% to aid economic recovery
-
China's trade surplus smaller than expected as exports drop more than imports
-
Fitch cuts China's credit outlook to negative on public finance risks
-
Yellen calls on China to shift policy as U.S. won't accept flood of cheap imports again
-
Read the full article on Seeking Alpha
For further details see:
China's Q1 GDP expands 5.3% Y/Y, beats expectations