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By Hideyuki Sano TOKYO (Reuters) - Asian shares held firm on Thursday after Federal Reserve Chair Jerome Powell said the U.S. economy was still a ways off from levels the central bank wanted to see before tapering its monetary support. A raft of Chinese economic data due later in the day, will be a major focus in Asia as will earnings from major companies, including Taiwanese chipmaker TSMC. MSCI s broadest index of Asia-Pacific shares outside Japan was little changed in early trade while Japan s Nikkei dropped 0.4%. Wall Street shares were mixed, with S&P ending 0.12% higher and Nasdaq down 0.22%.
Asian shares advance as China data better than feared
By Hideyuki Sano
Reuters
TOKYO (Reuters) - Asian shares advanced on Thursday as economic data from China was largely more resilient than expected, and as U.S. Federal Reserve Chair Jerome Powell said tapering of its massive stimulus was still a way off.
MSCI s broadest index of Asia-Pacific shares outside Japan gained 0.4%, with Hong Kong s Hang Seng rising 1.0%.
Mainland Chinese shares were little changed with CSI300 index almost flat.
China s second-quarter economic growth fell just short of forecasts on an annual basis, with GDP growth slowing to 7.9% from a year earlier from a record 18.3% expansion in the January-March period. But seasonally adjusted growth of 1.3% on the quarter in April-June was slightly better than expected.