Asian stock market rises after China data

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HONG KONG: Asian markets mostly rose after data showed China’s economy grew more than expected in the second quarter on Wednesday.

Investors are also awaiting testimony later in the day from US Federal Reserve chief Janet Yellen on the bank’s plans for hiking interest rates.

Tokyo stocks edged up 0.38 percent, or 78.00 points, to close at 20,463.33, while Sydney climbed 1.05 percent, or 58.8 points, to close at 5,636.2.

Seoul gained 0.66 percent, or 13.68 points, to end at 2,072.91.

But Shanghai sank 2.40 percent and Hong Kong lost 0.41 percent in afternoon trade.