Hong Kong stocks rise after China growth data

Hong Kong share market finished higher on Wednesday, 16 July 2014, on the back of better than expected China's second-quarter economic growth figures. The benchmark Hang Seng Index closed 63.32 points, or 0.27%, up at 23523.28. Turnover increased to HK$53.46 billion from yesterday's HK$52 billion.

China's economic growth increased for the first time in three quarters after the government accelerated spending and freed up more money for loans to counter a property slump. The National Bureau of Statistics announced on Wednesday that China's gross domestic product grew 7.5% in the April-June period, picking up from the 7.4% growth in the first quarter.

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