Asian markets mostly rose Wednesday following a second straight rally on Wall Street, while Chinese economic growth came in slightly above forecasts in the first three months of the year.
Japan s Nikkei led regional gains thanks to a weaker yen after the head of the country s central bank said it was on course to meet its inflation target next year.
Tokyo surged 3.01 percent, or 420.87 points, to finish at 14,417.68 and Sydney added 0.6 percent, or 32.1 points, to 5,420.3. Seoul was flat, edging down 0.06 points to 1,992.21.
Hong Kong edged up 0.11 percent, or 24.75 points, to end at 22,696.01 and Shanghai rose 0.17 percent, or 3.52 points, to 2,105.12.
China s National Bureau of Statistics said the world s number two economy expanded 7.4 percent year-on-year in January-March.
The figure was lower than the 7.7 percent seen in the final three months of last year and marks the fourth slowdown in the past five quarters, putting China on track for its worst annual performance since 1990.
However, it was slightly up on the 7.3 percent median forecast in a survey of 13 economists by AFP.
Bureau spokesman Sheng Laiyun said the economy "performed within a proper range, with structural adjustment, economic transformation and upgrading continuing to make progress".
But he added: "We should keep in mind that the external environment remains complicated and volatile, and the national economy still faces downward pressure."
Asian markets mostly rose Wednesday following a second straight rally on Wall Street, while Chinese economic growth came in slightly above forecasts in the first three months of the year.
Japan s Nikkei led regional gains thanks to a weaker yen after the head of the country s central bank said it was on course to meet its inflation target next year.
Tokyo surged 3.01 percent, or 420.87 points, to finish at 14,417.68 and Sydney added 0.6 percent, or 32.1 points, to 5,420.3. Seoul was flat, edging down 0.06 points to 1,992.21.
Hong Kong edged up 0.11 percent, or 24.75 points, to end at 22,696.01 and Shanghai rose 0.17 percent, or 3.52 points, to 2,105.12.
China s National Bureau of Statistics said the world s number two economy expanded 7.4 percent year-on-year in January-March.
The figure was lower than the 7.7 percent seen in the final three months of last year and marks the fourth slowdown in the past five quarters, putting China on track for its worst annual performance since 1990.
However, it was slightly up on the 7.3 percent median forecast in a survey of 13 economists by AFP.
Bureau spokesman Sheng Laiyun said the economy "performed within a proper range, with structural adjustment, economic transformation and upgrading continuing to make progress".
But he added: "We should keep in mind that the external environment remains complicated and volatile, and the national economy still faces downward pressure."
There are increasing fears of a slowdown in the Chinese economy, a key driver of regional and global growth, following a string of weak data, including on manufacturing and trade.
That in turn has fuelled speculation that Beijing will announce measures to kickstart growth, such as by lowering the amount of cash that banks must keep in reserve, which would boost lending.
Mark McFarland, global chief economist at Coutts Private Bank, told Dow Jones Newswires that while Wednesday s data was weak, "under the circumstances, it actually isn t bad".
He added that markets should forget about stimulus for now as China focuses on reining in credit growth.

- BoJ upbeat on economy -
=========================

On Wall Street US shares, which plunged last week on fears about tech firms  valuations, picked up for a second day on Tuesday following some upbeat corporate results.
Yahoo reported stronger than expected profits for the first quarter and chip giant Intel posted a smaller than forecast dip in net profit as the key personal computer segment showed signs of stabilising.

On Wall Street the Dow ended up 0.55 percent, the S&P 500 jumped 0.68 percent and the Nasdaq added 0.29 percent.
In Tokyo the yen saw selling pressure after Bank of Japan governor Haruhiko Kuroda said its 2.0 percent inflation target was on track. He also said it was too soon to debate ending a massive stimulus programme introduced last year as part of a drive to kickstart the economy.
The dollar was at 102.19 yen in Tokyo, against 101.94 yen in New York Tuesday afternoon.
The euro fetched $1.3840 and 141.45 yen compared with $1.3813 and 140.80 yen.
Investors are also watching the Ukraine crisis after Russian President Vladimir Putin warned that Ukraine was on the verge of civil war as Kiev launched a military operation against pro-Kremlin militants in the separatist east.
In oil trade New York s main contract, West Texas Intermediate for May delivery, rose 95 cents to $104.70, while Brent North Sea crude for June rose 44 cents to $109.80 on its first day of trading. Brent s May contract expired Tuesday.
Gold fetched $1,303.75 an ounce at 0810 GMT, from $1,303.06 late Tuesday.

In other markets:

-- Taipei rose 0.56 percent, or 50.07 points, to 8,966.78.
Taiwan Semiconductor Manufacturing Co. fell 1.22 percent to Tw$121.0 and PC maker Acer rose 1.81 percent to Tw$19.65.
-- Wellington added 14.26 points or 0.28 percent, to 5,090.55.
Fletcher Building ended up 1.15 percent at NZ$9.71 and Contact Energy rose 0.55 percent to NZ$5.50.
-- Manila closed 0.75 percent higher, adding 49.52 points to 6,671.18.
SM Prime Holdings was up 3.36 percent at 16.00 pesos, while parent SM Investments advanced 0.97 percent to 727.00 pesos. Philippine Long Distance Telephone rose 1.45 percent to 2,800.00 pesos.
There are increasing fears of a slowdown in the Chinese economy, a key driver of regional and global growth, following a string of weak data, including on manufacturing and trade.
That in turn has fuelled speculation that Beijing will announce measures to kickstart growth, such as by lowering the amount of cash that banks must keep in reserve, which would boost lending.
Mark McFarland, global chief economist at Coutts Private Bank, told Dow Jones Newswires that while Wednesday s data was weak, "under the circumstances, it actually isn t bad".
He added that markets should forget about stimulus for now as China focuses on reining in credit growth.

- BoJ upbeat on economy -

=========================

On Wall Street US shares, which plunged last week on fears about tech firms  valuations, picked up for a second day on Tuesday following some upbeat corporate results.
Yahoo reported stronger than expected profits for the first quarter and chip giant Intel posted a smaller than forecast dip in net profit as the key personal computer segment showed signs of stabilising.
On Wall Street the Dow ended up 0.55 percent, the S&P 500 jumped 0.68 percent and the Nasdaq added 0.29 percent.
In Tokyo the yen saw selling pressure after Bank of Japan governor Haruhiko Kuroda said its 2.0 percent inflation target was on track. He also said it was too soon to debate ending a massive stimulus programme introduced last year as part of a drive to kickstart the economy.
The dollar was at 102.19 yen in Tokyo, against 101.94 yen in New York Tuesday afternoon.
The euro fetched $1.3840 and 141.45 yen compared with $1.3813 and 140.80 yen.
Investors are also watching the Ukraine crisis after Russian President Vladimir Putin warned that Ukraine was on the verge of civil war as Kiev launched a military operation against pro-Kremlin militants in the separatist east.
In oil trade New York s main contract, West Texas Intermediate for May delivery, rose 95 cents to $104.70, while Brent North Sea crude for June rose 44 cents to $109.80 on its first day of trading. Brent s May contract expired Tuesday.
Gold fetched $1,303.75 an ounce at 0810 GMT, from $1,303.06 late Tuesday.
 
In other markets:

-- Taipei rose 0.56 percent, or 50.07 points, to 8,966.78.
Taiwan Semiconductor Manufacturing Co. fell 1.22 percent to Tw$121.0 and PC maker Acer rose 1.81 percent to Tw$19.65.
-- Wellington added 14.26 points or 0.28 percent, to 5,090.55.
Fletcher Building ended up 1.15 percent at NZ$9.71 and Contact Energy rose 0.55 percent to NZ$5.50.
-- Manila closed 0.75 percent higher, adding 49.52 points to 6,671.18.
SM Prime Holdings was up 3.36 percent at 16.00 pesos, while parent SM Investments advanced 0.97 percent to 727.00 pesos. Philippine Long Distance Telephone rose 1.45 percent to 2,800.00 pesos.