Hong Kong Hang Seng rallies on China growth news

<p>The Hong Kong Hang Seng has made gains as China’s growth accelerates.</p>

The Hong Kong Hang Seng has rallied ahead of close of play today (January 18th), as official figures reveal growth picked up by 7.9 per cent in the final quarter of 2012.

According to official figures from the National Bureau of Statistics in Beijing, this is compared with the 7.4 per cent expansion logged in the previous three-month period, while it overtook analysts' median estimates, Bloomberg reports.

Furthermore, industrial output in December increased by a greater-than-anticipated 10.3 per cent and fixed-asset investment for the full year gained by 20.6 per cent.

Overall, the world's number two economy expanded by 7.8 per cent over 2012, which is better than the government's target of 7.5 per cent – the lowest goal set by policymakers in eight years.

An hour before market close this morning, the Hong Kong Hang Seng rallied by one per cent to an index value of 23572.7 points – a gain of 232.9 points.

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