European shares were trading mostly higher after a mixed session in Asia following the release of data showing China’s economy is weaker than expected, with domestic demand failing to bounce back as much as hoped for after the pandemic.
A person walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Tuesday, May 16, 2023, in Tokyo. Asian shares were mostly higher on Tuesday even though the latest data showed Chinas economy is weaker than expected, with domestic demand failing to bounce back as much as hoped for after the pandemic.
after the pandemic faces pressure from sluggish consumer and export demand, a government official said Tuesday, with retail sales and other activity in April weaker than expected. “Today’s activity data suggest China is mired in an extended soft patch,” said Stephen Innes of SPI Asset Management in a report.
Tokyo's Nikkei 225 index surged 0.7% to 29,842.99, continuing a climb toward its highest level since the early 1990s that has been helped by strong corporate earnings and signs that inflationary pressures might be easing.
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