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Asian shares advance as China data better than feared

Hideyuki Sano 5 minute read A Stock Exchange of Hong Kong (HKEX) logo in Beijing, China September 4, 2020. REUTERS/Tingshu Wang TOKYO, July 15 (Reuters) - Asian shares advanced on Thursday as economic data from China was largely more resilient than expected, and as U.S. Federal Reserve Chair Jerome Powell said tapering of its massive stimulus was still a way off. MSCI s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) gained 0.4%, with Hong Kong s Hang Seng (.HSI) rising 1.0%. Mainland Chinese shares were little changed with CSI300 index (.CSI300) almost flat. China s second-quarter economic growth fell just short of forecasts on an annual basis, with GDP growth slowing to 7.9% from a year earlier from a record 18.3% expansion in the January-March period. But seasonally adjusted growth of 1.3% on the quarter in April-June was slightly better than expected. read more

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