GLOBAL MARKETS-Asia stocks rally as China data buoys

Asian stocks rose strongly on Friday, extending a global equity rally, after better-than-expected Chinese economic data added to the good vibes from expectations that tightening campaigns by the world’s biggest central banks were close to over.
The dollar stuck close to a six-month peak from overnight against major peers, buoyed by robust U.S. economic data, while the euro sagged following the European Central Bank’s signal that Thursday’s rate hike was probably the last this cycle.
Crude oil hit a fresh 10-month top. MSCI’s broadest index of Asia-Pacific shares rallied 0.84%.
Japan’s Nikkei jumped 1.33% to a two-month high. Hong Kong’s Hang Seng added 1.2%, and mainland Chinese blue chips rose 0.2%, flipping from early small losses.
Australia’s stock benchmark surged 1.75%.