Asian markets rise on China data, dovish Fed comments

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Asian markets were mostly higher on Thursday after China released a raft of key data indicating solid but slowing growth.

China's economy expanded 7.9 percent in the second quarter, with industrial output and retail sales also showing solid growth.SHANGHAI - Asian markets were mostly higher on Thursday after China released a raft of key data indicating solid but slowing growth while the Federal Reserve chief said the US central bank would maintain its stimulus until the recovery was well under way.

The National Bureau of Statistics said the world's second-largest economy continued to"recover steadily", but sounded a note of caution over external uncertainties and the uneven domestic economic rebound. In June, industrial output rose 8.3 percent and retail sales grew 12.1 percent, both edging down from the month before.

The latest figures suggest China should be on track to meet its growth target of more than six percent this year.

 

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