Asian markets mixed after Chin’s economy grew 3.9% in third quarter
TOKYO — Asian shares mostly rose Monday, but benchmarks fell in Hong Kong and Shanghai after Beijing reported that the Chinese economy gained momentum in the last quarter.
Market watchers are keeping a cautious eye on inflationary pressures and any signs of risk for regional slowdowns. In China, Xi Jinping awarded himself a third five-year term as leader of the ruling Communist Party. Xi gave no sign of plans to change the severe “zero-COVID” strategy that has crimped business and trade. He indicated no changes in policies straining relations with Washington and Asian neighbors.
The S&P 500 SPX rose 2.4% to 3,752.75, notching a weekly gain of 4.7%, its biggest weekly gain since June.Investors have focused on corporate earnings as they search for clues about how inflation and rising interest rates are shaping global economies.
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