China’s GDP Beat Expectations. Alibaba, Baidu and JD.com Are Rising.

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Alibaba
,

JD.com
,
and other U.S.-listed Chinese stocks climbed Tuesday as the country’s economy rebounded at a faster-than-expected pace in the first quarter.

China’s gross domestic product (GDP) rose 4.5% in the first three months of the year, convincingly beating the FactSet economists’ consensus for 3.4% growth.

U.S.-listed shares of Chinese e-commerce giant

Alibaba

(ticker: BABA) rose 3% in premarket trading,

Baidu

(BIDU) stock was 1.1% up and

JD.com

(JD) edged 0.5% higher.

But Hong Kong-listed Chinese stocks were mixed as investors digested more economic data, such as industrial output, which missed expectations, and fixed asset investment growth, which unexpectedly slowed to 5.1% in March.

Shares in

Alibaba

(ticker: 9988.Hong Kong) fell 0.8% in Hong Kong trading,

JD.com

(9618. Hong Kong) stock slipped 1.5%, while

Tencent

Holdings (700. Hong Kong) was 2% down.

The other data released Tuesday highlighted how “uneven” the recovery has been, OANDA analyst Craig Erlam said. Retail sales jumped 10.6% in March, ahead of expectations for a 7.5% rise, as Chinese consumers did their bit to boost the economy.

“The fixed asset investment and industrial production figures were less inspiring, both comfortably falling short of expectations and highlighting the challenges facing the economy this year,” Erlam added.

Write to Callum Keown at [email protected]