Asia Stocks Fall on Lowest China Growth Target Since 2004

Asian stocks fell, paring gains from last week that saw the benchmark index post its longest weekly winning streak on record, after China said it will target the slowest economic growth since 2004.

Industrial & Commercial Bank of China Ltd., the nation’s biggest lender by market value, fell 2.7 percent. ICBC was the biggest drag on the MSCI Asia Pacific Index, followed by BHP Billiton Ltd., the world’s No. 1 mining company, which fell 0.8 percent in Sydney on lower metal prices. Hiwin Technologies Corp., a ball-bearing maker, declined 6.9 percent in Taipei after saying its February unconsolidated sales slumped 23 percent from a year earlier.