Asian Stocks Rise on China Growth Data
By wchung | 13 Apr, 2025

Asian stock markets climbed Monday, encouraged by gains on Wall Street and Chinese economic indicators released over the weekend.

Sentiment was bolstered by the China figures which suggested the world’s No. 2 economy isn’t slowing as abruptly as feared. Exporters in many countries, particularly in Asia, are relying on Chinese demand to offset sluggish growth in the U.S. and Europe.

China’s industrial production growth accelerated slightly to 13.9 percent year-on-year in August from July’s 13.4 percent increase. Investment in factories and other fixed assets soared 24.8 percent while retail sales of consumer goods rose 18.4 percent due to better-than-expected auto sales.

Japan’s Nikkei 225 stock average paced regional gains, jumping 92.05 points, or 1 percent, to 9,331.22. Automakers and tech shares benefited from a softer yen, which triggered buying in exporters. The dollar was trading above the 84-yen level after hitting a fresh 15-year-low last week in the 83-yen range.

Hong Kong’s Hang Seng index added 1.7 percent to 21,167.69, South Korea’s Kospi rose 0.5 percent to 1,811.68, and Taiwan’s benchmark was up 1.6 percent at 8.012.64.

Australia’s S&P/ASX 200 rose 1.2 percent to 4,615.90, led by miners and banks.

In New York on Friday, the Dow Jones industrial average rose 47.53, or 0.5 percent, to close at 10,462.77, extending a rally that began nearly two weeks ago on newfound optimism about the global economy. It was the highest close since Aug. 10. But it’s still only up 0.3 percent this year.

Broader indexes also rose. The Standard & Poor’s 500 index rose 5.37, or 0.5 percent, to 1,109.55, while the Nasdaq composite index rose 6.28, or 0.3 percent, to 2,242.48.

Benchmark crude for October delivery was up 76 cents at $77.21 a barrel in electronic trading on the New York Mercantile Exchange. The contract surged $2.20 to settle at $76.45 a barrel on Friday.

In currencies, the dollar rose to 84.15 yen from 84.07 yen. The euro rose to $1.2787 from $1.2675.

TOKYO (AP)