Asian stocks stumble as weak China data fan global growth worries

Asian stocks stumble as weak China data fan global growth worries

HONG KONG, Sept 15 (Reuters) - 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 outside Japan (.MIAPJ0000PUS) dropped 0.82%, extending earlier losses after the release of the Chinese data, while Tokyo's Nikkei (.N225) shed 0.89%, moving off a more than 31-year closing-high the day before. A burst of data out of China showed businesses were grappling with the impact of localised lockdowns following sporadic COVID-19 outbreaks, supply bottlenecks and high raw materials costs. Retail sales grew at the slowest pace since August 2020 and missed analysts expectations, while industrial output also rose at a weaker …
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