Asian stock markets have followed in the footsteps of Wall Street this Friday after China has reported an economic growth of 6.1% in 2019 and Washington and Beijing signed a 'phase one' trade agreement.
The benchmarks in Shanghai, Tokyo and Hong Kong advanced after the US S&P 500 benchmark reached a new high and Alphabet, the parent company of Google, exceeded the market value of $ 1 billion.
China's economic growth was the lowest since 1990, but the numbers indicated an improvement in activity in December. Wednesday's signing of a truce in the commercial war that the country has maintained with the US in the past year and a half has the potential to revive the confidence of consumers and businesses.
Investors are "finding inspiration" on Wall Street while trying to figure out "how they will continue" trade relations between the United States and China, according to Jingyi Pan of IG Markets. "The market sentiment seems to have improved this weekend," the analyst adds.
The Shanghai Composite Index has finished almost flat, while the Nikkei has advanced almost 0.5%. The Hong Kong Hang Seng (+ 0.60%) cut its earnings at closing. Seoul's Kospi (+ 0.11%) and Sydney's ASX200 (+ 0.32%) also closed in green.