Asian stocks make modest gains after steady Chinese GDP data
Equities are slightly stronger on improved risk appetite as investors take the view that Western-led strikes on Syria are a one-off intervention
Tokyo — Asian stocks rose modestly on Tuesday following data showing China’s economy grew a little faster than expected in the first quarter. The dollar was barely changed, with demand for safe-haven US treasuries ebbing as investor risk appetite improved in parts of the broader markets as investors took the view that Western-led strikes on Syria were a one-off intervention. China’s economy grew a welcome 6.8% in the first quarter of 2018 from a year earlier, official data showed on Tuesday, unchanged from the previous quarter. But separate data showed March industrial output missed expectations and first-quarter fixed-asset investment growth slowed, tempering equity market gains. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.05%. Australian stocks gained 0.5%, South Korea’s Kospi dipped 0.1% and Hong Kong’s Hang Seng gained 0.15%. Shanghai rose 0.15% and Japan’s Nikkei was flat. While Saturday’s missile strikes were the biggest intervention by Western countr...
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