Asian shares mostly rise despite weaker-than-expected China economic data. Tokyo, Hong Kong, and Seoul see gains, while Shanghai and Sydney decline. China’s recovery faces challenges from sluggish consumer and export demand. April’s retail sales show an 18.4% increase YoY but below expectations. Factory output rises 5.6% YoY but dips 0.5% from March. Investment in factories and real estate increases by 4.7% in the first four months of 2023, slightly lower than Q1’s growth rate.
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