Global stock markets rise on China hopes [Video]

Most Asian and European stock markets rose Friday after Chinese economic growth data beat forecasts and officials flagged fresh measures to boost the world’s second biggest economy.

Paris and Frankfurt advanced in midday deals following the European Central Bank’s decision Thursday to further cut eurozone interest rates as inflation returns to normal levels.

London dropped, however, weighed down by the pound gaining in reaction to official data showing UK retail sales rose more than expected in September.

Hong Kong and Shanghai burst higher on hopes the Chinese government could reignite the struggling economy, with tech giants and beaten-down developers among the best performers.

China’s economy expanded by a slightly better-than-forecast annual rate of 4.6 percent in the third quarter, official data revealed Friday.

However, it still marked the slowest pace of growth since the start of 2023.

Separate data showed that Chinese retail sales and industrial output rose more than …