Updated from 12:44 a.m. EST

BEIJING (

TheStreet

) -- China's benchmark stock index ended with gains Thursday, reversing earlier losses, following news fourth-quarter gross domestic product in the country soared to 10.7%.

China's growth is its fastest since 2007. The GDP number surpassed the forecasts of most analysts and raised 2009's expansion to 8.7%, up from a low of 6.1% in the first quarter, the

Associated Press

reports.

Consumer prices in China rose a more-than-expected 1.9% in December from a year earlier, sparking calls from economists and analysts for China to put an end to its stimulus programs and seek to control inflation.

China has said that stimulus spending will continue but it has ordered banks to curb their easy lending practices.

Shanghai's composite index closed higher by 0.2% to 3,158.86. The Hang Seng index in Hong Kong fell almost 2%. In Tokyo, the Nikkei 225 stock average gained 1.2%.

Stocks in London, Frankfurt and Paris were higher inside the first hour of trading.

Premarket futures in the U.S. suggested stocks would open higher on Wall Street Thursday, a day with earnings reports scheduled from the likes of

Goldman Sachs

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.

-- Reported by Joseph Woelfel in New York.

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