Asian Markets Rise

Asian markets are higher on the back of the rally in the U.S. stock market, and after Chinese Q1 GDP beat expectations.

Japan’s Nikkei is up 2%.

Australia’s S&P/ASX 200 is up 0.5%.

China’s Shanghai Composite is flat.

Hong Kong’s Hang Seng is up 0.5%.

While the latest data beat expectations it confirmed fears of China’s economic slowdown.

Q1 GDP was up 7.4% on the year, but down from 7.7% the previous quarter. Quarter-over-quarter GDP was up 1.4% or 5.7% annualized.

The Aussie dollar got a nice pop after the data beat expectations but pared some of those gains.

Meanwhile, S&P futures are up 0.3% and NASDAQ futures are up 0.4%.

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