China’s strong data sparks major stock rally with economic stimulus ‘bearing fruit’

Asian stocks closed higher on Wednesday after a raft of positive Chinese data signaled a recovery in the world’s second-largest economy. China’s economy grew 6.4% in the first quarter, higher than forecasted. Growth in industrial output, retail sales and fixed-asset investment also impressed. In Europe, passenger car sales declined for a seventh straight month in March, led by Italy and Spain.

Asian stocks closed higher on Wednesday after a raft of positive Chinese data

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