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.

Learn about the Asian markets and find spread betting tips at City Index.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.