The Stoxx Europe 600 index extended a decline after data suggested the euro area will avoid a recession after unexpectedly expanding at the end of 2022, prompting traders to ramp up bets on monetary tightening by the ECB.
In the euro area, gross domestic product edged up by 0.1 per cent in the final quarter, Eurostat said Tuesday, defying economist estimates for a contraction of 0.1 per cent. While German and Italian output shrank, France and Spain recorded expansion. There was also stronger-than-anticipated data on Monday from Ireland.
Samsung Electronics Co. fell more than 3.5 per cent in Seoul, weighing on South Korea's Kospi gauge, after profit slumped on poor demand for semiconductors and weakness in smartphones and memory chips. In Hong Kong, Alibaba Group Holding Ltd.'s decline this week reached around 10 per cent amid concern that China's consumer recovery may fail to meet lofty expectations.
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