China's April trade growth stronger than expected

Another piece of economic data -- April trade -- beat forecasts on all fronts. Exports rose 14.7 percent, forecast was just 10.3 percent, while in March, exports only gained 2.7 percent. Imports increased 16.8 percent, compared to expectations of a 13.9 percent rise, versus a fall of 7.7 percent in March.

While the numbers are encouraging, some analysts say exports could be overstated in order to bring in hot money to the country. China's forex regulators are now cracking down on such inflows. Last week, China's April PMI numbers showed a drop off in new export orders.

Economists are looking to industrial production data next week for further proof of the strength of China's economic recovery. Still, the positive trade numbers are lifting sentiment in Asian stock markets.