Beijing, China (BBN)-Asian shares traded higher on Tuesday after China’s economic growth in 2014 came in above market expectations.
China’s economy expanded by 7.4% last year, down from 7.7% in 2013, but above forecasts of about 7.2% growth, reports BBC.
Shares across the region were up despite China’s annual growth slowing to its weakest in 24 years.
The Shanghai Composite was up 1.9% after closing down 7.7% on Monday due to a crackdown on margin trading, where investors borrow cash to buy shares.
In Hong Kong, the benchmark Hang Seng index was up 0.6% to 23,875.17.
REST OF ASIA
In Japan, the benchmark Nikkei 225 was up 1.5% to 17,265.4 following a rise in European stocks.
The eurozone’s central bank may unveil stimulus measures this week.
The dollar was 118.19 yen against 117.53 yen in European trade.
US markets were closed for a public holiday on Monday.
Investors also shrugged off a Reuters Tankan survey that showed that confidence at Japanese manufacturers had slid for a second straight month in January.
Bucking the trend were Australian shares with the S&P/ASX 200 down 0.1% to 5,302.2 points.
In South Korea, the benchmark Kopsi index was up 0.7% to 1,916.79 after closing higher on Monday.
Friday, September 23, 2022