Stock markets in Tokyo and Hong Kong rallied on Thursday as Chinese quarterly growth figures came in as expected and industrial output rose more than predicted.

Official data showed China's gross domestic product (GDP) slowed to 7.4% in the third quarter from the same time a year earlier, in line with expectations. During the first nine months of the year, Chinese growth expanded 7.7% from the year before.

In a separate report Chinese industrial output rose 9.2% in September from the year before, beating an 8.9% year on year increase in August. September's figure also beat market expectations of a 9% increase.

The data boosted investor appetite and increased the view that growth in the world's second largest economy is stabilising.

The benchmark Nikkei 225 index closed up 176 points at 8,982 while the Hang Seng rallied 102 points at 21,518.

Banks in Hong Kong did well following the data. Shares of Industrial & Commercial Bank of China rose 1% while Bank of China added 0.5%.

Hong Kong exporters also packed a punch with shares of Li & Fung rising as much as 4.8% while Foxconn International stacked up 4.5%.

China Life Insurance fell out of favour after it cautioned that 9-month net profit is expected to tumble over 50% following increased impairment charges and a drop in investment yields.

In Tokyo, Sony tacked on 3% while carmakers Toyota and Honda improved 2.7% and 4.2% respectively.

Elsewhere shares of chipmaker Renesas Electronics bounced 6.2%.



CJ

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