http://finance.yahoo.com/news/Asia-stock...


HONG KONG (AP) -- Asian stock markets gained ground Thursday as stronger growth in China and upbeat U.S. company earnings reassured investors that the world economy was headed toward recovery.

The move higher followed a rally on Wall Street and marked the region's third straight day of gains after a string of losses amid anxiety the market had overestimated the economy's prospects and earnings season would disappoint.

But worst-case fears about U.S. earnings haven't played out, at least not yet.

Intel Corp., the world's biggest chipmaker, helped confidence by posting better-than-expected results and a robust forecast for the second-half of the year. The news came after Goldman Sach Group Inc.'s quarterly profit comforted investors.

Adding to the growth story, China said its economy accelerated in the second quarter, expanding by 7.9 percent, amid a surge in consumer spending and factory output on the back of massive government stimulus measures.

Analysts said the quicker expansion put the world's third-largest economy within reach of the government's 8 percent full-year growth target.