China's CSI 300 rebounds on stronger-than-expected GDP data amid mixed Asia-Pacific markets

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

China's CSI 300 rebounded after the country reported better-than-expected economic growth, while most Asia-Pacific markets were mixed.

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 was trading up 0.7% as investors ingested the data. Hong Kong's Hang Seng index was up 1.3% in choppy trading.

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 was trading 0.4% higher while the broad-based Topix rose 0.3%.

South Korea's blue-chip Kospi slipped 0.4%, while the small-cap Kosdaq was down 1.4%.

Australia's S&P/ASX 200 was down 0.8%.

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 record earlier in the session.

The Nasdaq Composite rose 0.04% inched higher, as chipmakers rallied, to end at 18,373.61.

All three indexes are tracking for their sixth straight positive week.

— CNBC's Lisa Kailai Han and Hakyung Kim contributed to this report.

TSMC's Taipei-listed shares surge to new high following strong earnings, rosy outlook

Taipei-listed shares of Taiwan Semiconductor Manufacturing Co. jumped as much as 6% Friday morning, hitting a record high.

On Thursday, TSMC reported third-quarter net income of 325.3 billion New Taiwan dollars ($10.1 billion), a 54% jump on year, also surpassing investors' expectations of NT$300.2 billion cited by Reuters.

The latest quarter earnings came after Taiwan market closed on Thursday.

Following the upbeat report, its shares listed in the New York Stock Exchange closed nearly 10% higher overnight.

Separately, the company said it was committed to complying with laws and regulations, according to Reuters, in response to a media report that U.S. government was probing their dealings with China's Huawei.

— Anniek Bao

Japanese yen weakens past 150 against the U.S. dollar overnight

The Japanese yen weakened past the 150 level overnight and was hovering near that mark on Friday.

This comes close on the heels of the U.S. dollar strengthening to a fresh 11-week high on Thursday.

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

Stronger inflation data provides the Bank of Japan more room to raise rates, which can strengthen the yen.

— Anniek Bao

China funds pull back

The iShares MSCI China ETF (MCHI) headed for its worst week in about two years as investors continued pumping the breaks on trades tied to the Asian country.

The exchange-traded fund has dropped more than 8% this week. If that holds through Friday's closing bell, it would mark the worst week for the fund since October 2022, when it slid more than 9% in one week.

The KraneShares CSI China Internet ETF (KWEB) and iShares China Large-Cap ETF (FXI) also both tracked for their biggest weekly losses in more than a year.

Despite those drawdowns, all three funds are still up in 2024, underscoring the strength of their recent rallies.

— Alex Harring

See the stocks moving after hours

These are some of the stocks making notable moves in extended trading:

• Netflix — The streaming stock popped more than 4% after third-quarter earnings surpassed expectations. Netflix also said its ad-tier memberships jumped 35% quarter over quarter.
• Intuitive Surgical — Shares jumped about 5% after the maker of the da Vinci surgical robot released stronger-than-expected results for the third quarter. Intuitive Surgical earned $1.84 per share on $2.04 billion in revenue, while analysts surveyed by LSEG had predicted earnings of $1.63 per share on $2 billion in revenue.

See the full list here.

— Alex Harring

Stocks head for winning week

Stocks are on track to finish the week with gains, extending recent winning streaks.

The Dow and S&P 500 have climbed 0.9% and 0.5%, respectively this week. The Nasdaq Composite has ticked up by almost 0.2%.

All three are on track to notch their sixth straight winning weeks. That would mark the longest weekly positive streaks for the Dow and S&P 500 in 2024.

Small caps have outperformed this week, with the Russell 2000 adding more than 2%.

— Alex Harring