BANGKOK—Shares were mostly lower in Asia and U.S. futures fell after China reported Monday that its economy expanded at a 4.8 percent annual pace in January-March.
Benchmarks fell in Tokyo, Seoul, Taipei, and Shanghai. Seoul edged higher. Markets in Europe and in Hong Kong and Sydney were closed for holidays.
Wall Street benchmarks declined last week before closing for the Easter holiday.
China’s growth has fallen well below the official target of 5.5 percent for 2022. In quarterly terms, the economy grew 1.3 percent in the first quarter, compared with 1.4 percent in the last quarter of 2021.
Authorities have ordered shutdowns in some major cities including Shanghai to battle the country’s outbreaks of coronavirus since it flared into a pandemic in March 2020. But the biggest impact of the shutdowns will likely be seen in the current quarter.
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