The Chinese economy grew by a seasonally adjusted 1.6% Q/Q in Q1 of 2024, quickening from an upwardly revised 1.2% increase in the previous quarter. It was the seventh consecutive period of quarterly expansion and the strongest advance since Q1 of 2023.
In addition, the country’s statistics agency noted that the industry had performed better than expectations, as highlighted by recent data on PMIs.
The Shanghai Composite (SHCOMP) fell 0.8% to around 3,030 on Tuesday, with mainland stocks giving back gains from the previous session as stronger-than-expected Chinese GDP data dampened hopes for further policy easing.
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