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Asian stocks slide following weak Chinese economic data

Asian stocks dropped on Monday after mixed China's economic numbers, while concerns over a full-scale Sino-U.S. trade war weighed on markets.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares skidded 0.3 percent.

The Shanghai Composite Index and the blue-chip CSI300 index lost 0.5 percent.

Hong Kong's Hang Seng index slipped less than 0.1 percent, but the China Enterprises Index slumped 0.6 percent.

Australian stocks slid 0.3 percent, and South Korea's Kospi was down 0.1 percent.

China’s economy expanded at 6.7 percent pace in the three months to June, official data showed. While the GDP numbers were in line with market forecasts, the fresh data also showed weaker-than-expected growth in China’s industrial production, pointing to new government steps to underpin growth.

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