European Markets Rise Amid Mixed Asian Trading; China Hits Growth Target

European stocks rose following a mixed Asian session. China's economy grew at 5%, hitting its target. Strong exports boosted manufacturing in China, but concerns remain over potential slowdowns and US tariffs. Gaming giant Nintendo faced setbacks, while TSMC's profits surged on AI demand.

European shares lifted on Friday after mixed trading in Asia, as China reported its economy grew at a steady 5% annual rate last year, meeting its target. Germany's DAX, Paris's CAC 40, and Britain's FTSE 100 each saw gains of around 1% amidst this economic backdrop.

The Chinese manufacturing sector expanded nearly 6%, fueled by strong exports and domestic spending policies. Meanwhile, economists anticipate slower growth, compounded by potential US tariffs and restrictions on technology transfers, posing new challenges for Beijing.

Elsewhere in Asia, investors expressed disappointment in Nintendo's new console, while Taiwan's TSMC posted a 57% profit jump, benefiting from the AI boom. Mixed US economic reports indicate no recession yet, but suggest a slowing pace that could ease inflationary pressures.

(With inputs from agencies.)