A man watches stock quotations on an electronic board outside a brokerage, in TokyoHONG KONG - Asia stocks fell on Wednesday after weak economic data in China and Europe heightened concerns over global growth, while the dollar firmed as investors weighed the outlook for U.S. interest rates.Australia's S&P/ASX 200 fell 0.55% even as second-quarter gross domestic product beat forecasts with a 0.4% rise.
"The China decline was bigger than expected," said Redmond Wong, Greater China market strategist at Saxo Markets. "The Europe data were rather weak. We think there is still a high chance to have a mild recession in the U.S. and Europe toward the end of the year or beginning of next year."The yield on the benchmark U.S. 10-year Treasury note rose 9 basis points to 4.26% after reaching 4.268%, its highest since Aug. 25, while the U.S. dollar rose to a near six-month high against a basket of currencies.
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