Asia stocks fell, with the regional benchmark poised to snap its longest winning streak since December 2013, after China posted the slowest economic growth in six years.
The MSCI Asia Pacific Index lost 0.4 percent to 152.51 as of 4:06 p.m. in Hong Kong. The gauge rose the past nine days, closing on Tuesday at its highest since May 2008. The index traded at 14.6 times estimated earnings on Tuesday, near the highest in five years.
China?s gross domestic product rose 7 percent in the three months through March from a year earlier, the statistics bureau reporting today, meeting the median estimate of economists and the official full-year expansion target. Industrial production was weaker than all 40 estimates in a Bloomberg News survey.
China?s Shanghai Composite index slumped 1.2 percent, the biggest decline in six weeks. Hong Kong?s Hang Seng index added 0.2 percent.
Japan?s Topix index slipped 0.1 percent. New Zealand?s NZX 50 Index lost 0.4 percent. South Korea?s Kospi index gained 0.4 percent, and Australia?s S&P/ASX 200 Index slid 0.6 percent.
Source : Bloomberg