China, U.S. figures underpin global shares
Global share markets placed below their historic peaks on Friday. This followed after economic figures from the United States and China boosted investors’ optimism for a brisk economic rebound.
Financial markets in Asia performed steadily after China released its first-quarter gross domestic product. While the country’s reading failed to breach expectations, its retail sales still advanced in March.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.2%, while Japan’s benchmark index Nikkei made minimal movements. Shanghai shares, on the other hand, recorded a 0.2% decline. MSCI’s broadest gauge of world stocks also declined during its mid-Asian trade as it erased a 0.05% gain.
In the United States, retail sales jumped 9.8% in March. This, together with the country’s unemployment benefit claims, supported investors’ sentiment.