Asian Markets Rise As China Economy Tops Forecasts, Gold Hits Record

Traders are growing increasingly worried about China's economy following another weak reading on retail sales as officials struggle to boost consumer activity (Credit: AFP)

Hong Kong and Shanghai soared Friday to lead gains across most Asian markets Friday after Chinese growth beat forecasts and officials flagged fresh measures to boost the world's number two economy.

Investors have been clamouring for Beijing to deliver more concrete plans for the country's stuttering economy since last month's slew of stimulus announcements that had fanned hopes officials would unload the "bazooka" policy many have been calling for.