Asian stocks stumble as weak China data fan global growth worries

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HONG KONG : Asian shares fell on Wednesday as weak Chinese economic data reinforced worries about slowing growth globally as well as in the world's second-biggest economy amid fraught nerves over a still-dominant pandemic and tapering of central banks' stimulus.MSCI's broadest index of Asia-Pacific shares

HONG KONG : Asian shares fell on Wednesday as weak Chinese economic data reinforced worries about slowing growth globally as well as in the world's second-biggest economy amid fraught nerves over a still-dominant pandemic and tapering of central banks' stimulus.

Retail sales grew at the slowest pace since August 2020 and missed analysts expectations, while industrial output also rose at a weaker pace from July, underscoring recent signs of slackening economic momentum in China and adding to expectations Beijing will offer more stimulus over coming months.The Hong Kong benchmark shed 0.

Overnight the U.S. Labor Department reported the Consumer Price Index in August posted its smallest gain in six months, suggesting inflation has probably peaked, aligning with Fed Chair Jerome Powell's long-held belief that high inflation is transitory.

 

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