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Asian stocks trimmed a rebound, with gauges in Hong Kong and Tokyo reversing, the yen climbed and copper declined as China reported slower-than-estimated growth in industrial production, retail sales and fixed-asset investment. China said industrial output expanded 8.6 percent through January and February, less than the 9.5 percent estimate of analysts surveyed by Bloomberg, underscoring fears of a slowdown that’s fueled a rout in global equities and industrial metals. Premier Li Keqiang pledged to control systemic risks in the financial system as an annual meeting of lawmakers finished today.
Nikkei 225 14,815.98 -14.41 -0.10%
S&P/ASX 200 5,412.61 +28.42 +0.53%
Shanghai Composite +21.42 +1.07%
Agricultural Bank of China Ltd. and Shanghai Pudong Development Bank Co. surged more than 3 percent on media reports that banks may be the first batch of companies to take part in a preferred-stock trial.
Liquor maker Kweichow Moutai Co. rallied 4 percent after Shenyin & Wanguo Securities Co. targeted a stock price that’s more than 20 percent above current levels.
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