A strong reading of US first-quarter growth data last week is also playing its part
London — Global shares rose on Monday, aided by data showing profits at Chinese industrial firms grew for the first time in four months and a strong reading of US first-quarter growth data last week.
Still nagged by uncertainty over the outlook for the global economy, investors were looking to a meeting of the US Federal Reserve this week and Chinese factory data for further clues on policy direction in the world's biggest economies. Australian shares were down 0.4% after hitting an 11-year closing high on Friday, while Seoul's Kospi was up 1.4%.
In China, fresh data showed industrial profits grew in March after four months of contraction, but analysts said sentiment remained fragile. Economists polled by Reuters expect factory activity in the world's second largest economy to grow at a steady but modest pace in April. Markets will also be looking to global factory activity surveys this week, particularly official and private readings on Chinese manufacturing which will both be released on Tuesday.
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