It ups pressures on global growth and to Chinese leaders’ efforts to avert politically dangerous job losses as they fight a tariff war with President Donald Trump.
Some of the latest data for September, such as investment and lending, showed improvement, but “pressure on economic activity should intensify in the coming months,” Julian Evans-Pritchard of Capital Economics said in a commentary.
“Cooling global demand will continue to weigh on exports, fiscal constraints mean that infrastructure spending will wane in the near-term and the recent boom in property construction looks set to unwind.”
The Shanghai Composite index gave up early gains, sinking 1.3% to 2,938.14, while Hong Kong’s Hang Seng shed 0.5% to 26,709.07. Australia’s S&P ASX 200 declined 0.5% to 6,649.70 and the Kospi in South Korea skidded 0.8% to 2,060.69.
Japan’s Nikkei 225 index advanced 0.2% to 22,492.68. Shares also rose in Jakarta but fell in the rest of Southeast Asia and in Taiwan.
Overnight, stocks closed broadly higher on Wall Street Thursday as investors welcomed another batch of encouraging quarterly results from big companies.