Mixed Asian Markets React to China's Disappointing Economic Recovery
TL;DR
Japan's Q1 GDP figures are expected to show annualized growth of 0.7%, the fastest in three quarters, thanks to strong services sector spending. Meanwhile, China's economic data for April fell short of expectations, with industrial output, retail sales growth, and property investment all undershooting forecasts. The Chinese yuan slipped to its weakest level this year, and Chinese stocks resumed their recent losing streak. U.S. debt ceiling talks continue to loom large over markets, with signs of progress being made to avert default.
- Morning bid: Eyes on Japan GDP, China losing steam Reuters
- Asia markets mixed as investors digest economic data from the region, U.S. debt ceiling looms CNBC
- China's lower-than-expected April data show economic recovery losing steam | ANC ANC 24/7
- China stocks end lower as economic recovery disappoints Financial Post
- Asian Stocks Shrug Off China Data Disappointment, Japan Index Pierces 33-Year High TVC News Nigeria
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