Economics
Asian Stocks Retreat From Two-Month High as Chinese Growth Slows
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Asian stocks slipped from an almost two-month high as raw-material producers led declines after China reported its slowest quarterly economic growth since 2009.
BHP Billiton Ltd., the world’s largest mining company, slipped 1.2 percent in Sydney. Sands China Ltd. slumped 6.4 percent in Hong Kong, following a two-week rally, after Daiwa Securities Group Inc. cut the Macau casino operator’s rating, saying it may be unable to pay dividends this year on liquidity constraints. Asahi Kasei Corp. dropped 8.5 percent in Tokyo, extending last week’s decline, after a report the company and partner Sumitomo Mitsui Construction Co. may be penalized for violating building laws.