Asian shares rise broadly, Chinese benchmark ends lower despite good economic data
China's economy posted a solid 5.3 percent growth in the first half of 2025, demonstrating strong resilience despite a complex global environment, according to data released by the National Bureau of Statistics.
China's June factory output beat forecasts and marked the quickest pace of growth since March but retail sales growth slowed down from the previous month, separate set of data revealed.
Fixed asset investment expanded 2.8 percent in the first six months this year from the same period last year, compared with the expectations for a 3.6 percent rise.
The dollar held near a three-week high in Asian trade ahead of U.S. June CPI data that could provide clues on the path for monetary policy.
The inflation rate likely accelerated for the second consecutive month to 2.7 percent, the highest level since February, up from 2.4 percent in May.
Gold climbed above $3,360 per ounce as a result of increasing trade and geopolitical tensions, while oil prices declined as traders assessed the outlook for Russian supply.
China's Shanghai Composite index dropped 0.42 percent to 3,505 as the latest GDP data eased the pressure on the need for additional stimulus in the near term.
Investors also fretted about the state of the country's property market after China Vanke Co. said its first-half loss could reach as high as $1.67 billion.
Data revealed China's new home prices fell at the fastest monthly pace in eight months in June, highlighting the struggle to revive demand.
Hong Kong's Hang Seng index rallied 1.60 percent to 24,590.12, with tech giants like Baidu and Alibaba surging 4-7 percent amid Nvidia-related optimism.
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