Asia markets higher ahead of Australia’s interest rate decision

Hong Kong recorded a 2.7% economic growth in the first quarter, chief executive John Lee said in a press conference on Tuesday.

The economy contracted 4.2% in the final quarter of 2022 compared to a year ago.

“Although the first quarter’s exports number is still dropping, China’s economy is constantly growing fast and Hong Kong’s aviation capacity recovery is accelerating,” Lee said.

“I believe HK’s Q2 economy will be better than Q1, and this year’s economy will be better than last year,” he said.

– Vivian Kam