Asian Stocks Decline After China Imports Signal Slowdown
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Most Asian stocks fell, with the regional index retreating a fourth day, after China’s imports grew at about half the pace economists expected, fueling concern a slowdown is deepening in the world’s second-biggest economy. Shares rose earlier as Europe’s finance chiefs made progress on Spain’s bailout.
BHP Billiton Ltd., the world’s largest miner, reversed gains after the China trade data. China Yurun Food Group Ltd. tumbled 6.6 percent after its chairman resigned. Nikon Corp. slumped 7 percent in Tokyo after Intel Corp. said it will invest in a rival of the Japanese manufacturer of chip-making equipment. Cosco Pacific Ltd., which operates a port in Greece, rose 0.9 percent after Europe agreed to speed loans to Spanish banks.