Thursday 23 May 2019
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business-standard - 7 days ago

China Market extends gains on policy easing hopes

The strength in the stock market after weak April activity data indicated that the expectations of economic data and policy support are more important than actual readings. China on Wednesday reported surprisingly weaker growth in retail sales and industrial output for April, adding pressure on Beijing to roll out more stimulus as the trade war with the US rumbles on. Growth in industrial output slowed more-than-expected to 5.4% in April from a year earlier, pulling back from a surprisingly strong 4-1/2-year high of 8.5% in March. Retail sales were also worse-than-expected, with the headline number rising 7.2%; the slowest pace since May 2003.


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