MORNING BID-U.S. re-opening plans help markets overlook China GDP contraction [Reuters]
Nokia Corporation Sponsored American Depositary Shares (NOK)
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Source: Reuters
MORNING BID-U.S. re-opening plans help markets overlook China GDP contraction A look at the day ahead from emerging markets chief correspondent Karin Strohecker. The views expressed are her own. China’s historic first-quarter contraction in gross domestic product did little to stymie an equity rally pinned on hopes that some degree of normality could soon return to virus-stricken economies as President Donald Trump outlines gradual plans to re-open the U.S. economy. Markets in Asia took China’s 6.8% year-on-year GDP tumble in their stride and the numbers nurtured hopes for more stimulus measures ahead. Yet the data paints a mixed picture of how the world’s second-largest economy - the first to have gone into lockdown – has fared in recent week. March factory activity declined less than expected, but declines in retail sales and fixed-asset investments disappointed. Nonetheless, European markets are following Asia’s strong lead, where Japan’s Nikkei climbed 3.25% to a six-week high and
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