Asian markets join global rally as China data beats forecastsTraders welcomed data showing Chinese retail sales grew more than expected last month, boosting hopes the economy is stabilising after an extended slowdown. (Photo: AFP)HONG KONG - Asian markets rallied Friday as forecast-busting Chinese data boosted hopes the world's number-two economy may be stabilising after an extended slowdown. The news out of Beijing, which followed a recent batch of encouraging figures, came a day after authorities further eased restrictions on banks in a bid to kickstart growth. Hong Kong and Shanghai led the Asian charge Friday after data showed Chinese retail sales and industrial production jumped more than expected last month. The figures were the latest suggesting the economy could be stabilising, with inflation, trade and services all showing a marked improvement in recent weeks.
