Asian Markets Mixed as China Economy Grows but Wall Street Slips; Earnings and Rates Eyed
• Asian shares mostly fell after a decline on Wall Street overnight; Tokyo's Nikkei benchmark momentarily hit a 30-year high before finishing down 0.4% • Official data showed the Chinese economy grew 5.2% in 2022, surpassing the government's 5% target and likely helped by 3% GDP growth in 2021 • Investors are keeping eyes on upcoming earnings reports and potential central bank moves to gauge markets • Analysts forecast strong 11.8% earnings growth for S&P 500 companies in 2024, fueling a stock rally over past 11 weeks • Energy prices drifted lower, with U.S. crude losing 56 cents to $71.84 a barrel and Brent crude down 51 cents to $77.78