Markets today: A series of Chinese and US economic data helped support global equities near all-time highs.
Investors believe in recovery from the crisis Covid. In focus there is above all the China, with GDP at + 18.3% in the first quarter of 2021.
How has it impacted Asian trade and how the markets today?
Markets: Asia bets on China and earns
I Asian markets remained substantially positive after the China registered a strong acceleration in first quarter growth, although the reading slightly disappointed expectations, while retail sales rebounded strongly last month.
Shares in Shanghai are trading + 0.94% at 8.10am. The Nikkei Japan rose by 0.10% and the Hang Seng Index by 0.90%. South Korea’s Kospi also gained 0.18%.
Analysts said that the data on China actually moved little expectations of a strong recovery and a further tightening of the policy to curb any excesses in real estate investments.
On Wall Street stocks rise, T bonds fall
Positive sentiment also in the US, where economic data released yesterday was solid, confirming that the economy is firmly on a recovery track.
U.S. retail sales rebounded 9.8% in March, the largest increase since May 2020, an increase that pushed sales 17.1% above the pre-pandemic level, marking a record high. .
The bright economic outlook was underlined by other data, including jobless claims for the first time which plummeted to their lowest level since March 2020 last week.
Despite these results, US bond yields declined, partly driven by Japanese purchases, as they started a new financial year this month.
The performance of the 10-year US Treasuries has gone down to1,529%, a five-week low and the latest stood at 1.578%, from its 14-month high of 1.776% set at the end of March.
On Wall Street, the S&P 500 gained 1.11% while the high-tech Nasdaq Composite saw a 1.31% rise, approaching its record high set in February.
In the currency market, the lower US yields were a drag on the US dollar.