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Asian stock traded higher following gains on Wall Street. U.S. stocks increased yesterday despite the weak U.S. GDP. The U.S. GDP dropped 2.9% in the first quarter, missing expectations for a 1.7% decline, after a 1.0% decline the previous quarter. That was the worst performance in five years.
The weak U.S. economic growth in the first quarter was driven by the cold winter in the U.S. Investors speculate that the economic activity in the U.S. will show a solid growth in the second quarter.
Indexes on the close:
Nikkei 225 15,308.49 +41.81 +0.27%
Hang Seng 23,197.83 +331.13 +1.45%
Shanghai Composite 2,038.68 +13.18 +0.65%
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