Asian stock markets mostly higher

Asia-Pacific markets were mostly higher on Thursday after Japan’s GDP growth beat expectations. Asia-Pacific markets were mostly higher on Thursday after Japan’s GDP growth beat expectations. China’s retail sales rose 2.7 percent annually, beating economists’ expectations of 2.6 percent growth. Industrial output rose 5.1 percent, compared with estimates of 5.2 percent. Urban unemployment rose slightly to 5.2 percent from 5 percent in June. Japan’s second-quarter gross domestic product rose 0.8 percent from the previous quarter, beating market expectations, compared with economists’ forecast of a 0.5 percent increase. It also reversed a revised 0.6 percent decline in the first quarter. Japan’s Nikkei 225 index rose 0.6 percent, while the Topix rose 0.9 percent. Australia's S&P/ASX 200 index rose marginally after the unemployment rate rose 0.1 percentage point to 4.2% in July. Hong Kong's Hang Seng index fell 0.7%, while mainland China's CSI 300 fell 0.24%. Markets in South Korea and India are closed for public holidays.