Asian stocks trim gains over China data

Asian stock markets clipped gains on Thursday after China reported slower growth in industrial production, retail and fixed-asset investment, and benchmarks in Hong Kong and Tokyo reversing. China’s industrial output expanded 8.6% in January and February, lower than the projected 9.5% which disappointed markets. Japan’s Nikkei 225 closed 0.1 percent lower to 14,815.98 and Hong Kong’s Hang Seng sank 0.4 percent to 21,807.55. In mainland China, the Shanghai Composite rose 0.9 percent to 2,015.03. South Korea’s Kospi added just 0.1 percent to 1,934.38. The Bank of Korea kept its interest rate steady for another month but its governor said domestic consumer demand is picking up. Australia’s S&P/ASX 200 was up 0.5 percent to 5,412.60. Stocks in Taiwan and Indonesia also advanced. Mumbai’s S&P Bombay Stock Exchange (BSE) was up 84.04 points (+0.38%) to 21,940.26 points at 1.15pm, two hours 45 mintues before scheduled close of trading. From BSE’s 5,322 listed companies, 1,428 advanced and 1,141 declined while 225 were unchanged when trading report last came in.