China's GDP expected to hit 5.4pc in first quarter, says Morgan Stanley

Morgan Stanley projects China’s economic growth to hit 5.4 percent in the first quarter due to better-than-expected first two-month data.

The investment bank estimates the first-quarter nominal gross domestic product growth to be 4.5 percent, versus Beijing’s full-year goal of around 5 percent.

But Morgan Stanley maintained its projection of slower growth in the second quarter, citing impacts of tariffs and external factors.

Morgan Stanley expects a top policymaker meeting in July to be the next market catalyst.

STAFF REPORTER