
Stock market today: Asian shares advance though China economic data weaker than expected
Associated PressAsian shares were mostly higher on Tuesday even though the latest data showed China’s economy is weaker than expected, with domestic demand failing to bounce back as much as hoped for after the pandemic. “While the boost from reopening should still underpin a further recovery in the near-term, the bulk of China’s rebound is now behind us,” Julian Evans-Pritchard of Capital Economics said in a report. Tokyo’s Nikkei 225 index surged 0.9% to 29,899.83 continuing a climb toward its highest level since the early 1990s helped by strong corporate earnings and signs that inflationary pressures might be easing. In other trading Tuesday, U.S. benchmark crude oil picked up 32 cents to $71.43 per barrel in electronic trading on the New York Mercantile Exchange.
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