China markets rebound on stronger-than-expected GDP data; most Asia-Pacific markets rise

This is CNBC's live blog covering Asia-Pacific markets.

Markets in mainland China and Hong Kong rebounded Friday after the world's second-largest economy posted better-than-expected economic growth. Overall, Asia-Pacific markets mostly rose.

China's third-quarter GDP grew 4.6% compared to the same period last year, slightly above estimates by economists in a Reuters poll but down from 4.7% in the previous quarter.

The rate was at its lowest level since the middle of last year, moving further away from Beijing's 5% annual growth target.

Data for the month of September showed that retail sales beat estimates to grow 3.2% year on year, while China's industrial output also grew faster than expected at 5.4%.

Meanwhile, China's house prices fell 5.8% year-over-year in September, a larger drop than 5.3% in August.

Mainland China's CSI 300 jumped 3.62% to close at 3,925.23, after notching an intraday high of 5.5%.

Hong Kong's Hang Seng index was up over 3.41% as of its final hour of trade.

Japan's headline inflation for September came in at 2.5%, while core CPI — which excludes fresh food prices —rose 2.4% year on year compared with Reuters estimates of 2.3%.

Japan's Nikkei 225 added 0.18% to close at 38,981.75 while the broad-based Topix was up slightly at 2,688.97.

South Korea's blue-chip Kospi slipped 0.59% to end at 2,593.85, while the small-cap Kosdaq was down 1.55% to 753.22.

Australia's S&P/ASX 200 edged 0.87% lower to finish at 8,283.2.

Overnight in the U.S., the Dow Jones Industrial Average rallied to a new record close after strong economic data eased lingering fears of a potential recession. The blue-chip index rose 161 points, or 0.37%, to 43,239.05.

The S&P 500 closed down 0.02% to settle at 5,841.47 after hitting an intraday