China's economy grew 5.4% in the fourth quarter from a year earlier, official data showed on Friday, significantly beating analysts' expectations and enabling the government to meet its annual growth target.

Bank of America reported robust earnings for Q4 2024, outperforming estimates with a huge increase in net income.

The real estate slump and uncertainty about future income have weighed on consumer spending and business confidence, adding to deflation concerns.

China's economy ended 2024 on better footing than expected helped by a flurry of stimulus measures, although the threat of a new trade war with the United States and weak domestic demand could hurt confidence in a broader recovery this year.