Markets across Asia rose on Friday as sentiment was boosted by positive economic data out of China and tailwinds from the successful listing of UK chip designer Arm.

Hong Kong’s Hang Seng stock index led the region higher with a rise of 1.7 per cent, while Tokyo’s Topix gained 1.2 per cent and South Korea’s Kospi advanced 1.3 per cent. China’s CSI 300 index of Shanghai- and Shenzhen-listed stocks reversed earlier losses in the day to be up 0.1 per cent.

The gains for Asian equities came in the wake of official data showing retail sales and industrial production rose more than analysts had expected. China’s economy has struggled to rebound after disruptive zero-Covid measures were lifted late last year, and investors are on high alert for signs that recent stimulus measures may be gaining traction.