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Asian stocks rally for fourth successive month in April

Published 02/05/2019, 08:01 pm
Updated 02/05/2019, 08:10 pm
© Reuters.  Asian stocks rally for fourth successive month in April

© Reuters. Asian stocks rally for fourth successive month in April

May 2 (Reuters) - Asian stocks rose for the fourth straight month in April, bolstered by China's better-than-expected economic data and on optimism that the United States and China are inching towards a trade deal.

In April, the MSCI's broadest index of Asia-Pacific shares, .MIAP00000PUS gained about 1.6 percent, its biggest gain since January.

Boosting regional optimism, China posted economic growth of 6.4 percent in the first quarter, in a sign that Beijing's policy stimulus is gaining traction in the world's second-largest economy. Industrial output in March expanded at the fastest pace since mid-2014. the recent meetings between the U.S. and Chinese officials to hammer out a trade deal lifted Asian shares.

The United States and China are nearing a trade deal that would roll back a portion of the $250 billion in U.S. tariffs on Chinese goods, Politico reported on Wednesday after U.S. Treasury Secretary Steven Mnuchin said the two countries completed "productive" talks in Beijing. April, Singapore equities .STI led the regional gains with a 5.8 percent rise, followed by Japan .N225 and Taiwan .TWII .

On the other hand, Pakistan .KSE and Sri Lanka .CSE were the biggest losers, with declines of 4.8 percent and 1.42 percent, respectively.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Asia Pacific equities April 2019 performance

https://tmsnrt.rs/2LdmMoW Asia Pacific equities performance in 2019

https://tmsnrt.rs/2LeiFJb

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