Asian stocks dropped, with the regional benchmark index retreating from the highest level in 20 months Monday, after Chinese economic growth and industrial production expanded less than economists' estimated.
Jiangxi Copper Co., China's largest copper producer, plunged 5 percent in Hong Kong. Newcrest Mining Ltd., Australia's biggest gold producer, sank 8.7 percent, after the bullion tumbled to the lowest price in almost two years. Nissan Motor Co. (7201), a Japanese carmaker that gets 32 percent of sales from North America, slid 3.3 percent, pacing declines among exporters after US retail sales unexpectedly fell.
The MSCI Asia Pacific Index fell 1 percent to 136.81 as of 12:50 p.m. in Tokyo, with about four shares falling for each that rose. Chinese gross domestic product expanded 7.7 percent in the first quarter, missing economists estimates, data released today showed.
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Article source: http://www.thethailandlinks.com/2013/04/15/asian-stocks-drop-on-china-gdp/
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