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Asian shares slide as Chinese growth data disappoints


AP Business Writer

Asian shares are mostly lower after China reported its economy grew at a meager 4.9% annual pace in July-September. Benchmarks declined in Shanghai, Hong Kong and Tokyo but rose in Sydney and Seoul. On Friday, Wall Street added to its recent gains, with the benchmark S&P 500 posting its best week since July. It rose 0.7%, while the Dow Jones Industrial Average jumped 1.1% and the Nasdaq composite gained 0.5%. Positive company earnings dovetailed with a report showing people spent much more at U.S. retailers in September than analysts had expected. Sales at stores, restaurants and other retail establishments rose 0.7% from August instead of falling, as economists had forecast.  

Article Topic Follows: AP National News

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The Associated Press


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