Stocks in Asian markets were oscillating between its gains and losses on Wednesday after positive Chinese economic data.
Japanese shares climbed while stocks in Hong Kong and Shanghai fluctuated. China’s economic growth figures were above expectations, as was industrial production and retail sales data.
China’s economy unexpectedly held up in the first three months as policy makers boosted stimulus measures to sustain growth, and should ease concerns about a flagging global economy. The resilience suggests that pro-growth policies are taking effect, with tax cuts and supportive monetary policy supporting sentiment. Traders are also busy digesting corporate earnings, where sentiment has been bullish, though volumes muted.
US futures rose. Earlier, the Nasdaq 100 closed within 0.1 percent of an all-time high, while gains fizzled late in the session to leave the S&P 500 Index little changed.
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