China Economic Figures Positive, Asia Rises
Asia-Pacific markets rose Tuesday after China’s second-quarter economic growth surpassed analysts’ forecasts.
In Japan, the Nikkei 225 recovered 218.4 points, or 0.6%, to 39,678.02.
In Hong Kong, the Hang Seng gained 386.8 points, or 1.6%, to 24,590.12.
Tech stocks in Hong Kong rose Tuesday for the third consecutive session, with shares of companies that import Nvidia chips surging after the artificial intelligence darling announced its intent to resume sales of its H20 graphic processing units to China.
CHINA
In Shanghai, the CSI 300 edged up 1.39 points to 4,019.06.
The country’s gross domestic product expanded by 5.2% in the second quarter, according to China’s National Bureau of Statistics, surpassing the 5.1% growth forecast by economists polled by Reuters. However, the latest reading is weaker than the 5.4% growth registered in the first quarter.
In other markets,
In Korea, the Kospi index gathered 13.25 points, or 0.4%, to 3,215.28.
In Singapore, the Straits Times index added 10.61 points, or 0.3%, to 4,119.82.
In Taiwan, the Taiex index revived 220.97 points, or 1%, to 22,835.94.
In New Zealand, the NZX 50 forged ahead 10.93 points, or 0.1%, to 12,689.63.
In Australia, the ASX 200 jumped 59.94 points, or 0.7%, to 8,630.35.
