Worries in Asia, stocks slumped today

This morning negative dynamics dominated on Asia stock markets after the forecasts for the Chinese economy did not come true. Macroeconomic statistics announced by Beijing over the weekend, intensified fears of dark perspectives for the Chinese economy.

Hour after the opening, the main index of the Shanghai Stock Exchange Shanghai Composite fell 3.2% to 3097.71 points. SZCOMP slumped by  4.53% to 1700.64 points. Hang Seng fell by only 0.1%, to 21482.22 points. Japan's Nikkei fell 1.52 % to 17,989.85 points, while the Korean KOSPI lost 0.81% reaching 1925.63 points.
Only Australian S&P/ASX 200 rose by 0.07% to 5074.7 points.

On Sunday, data showed China’s factory output and fixed-asset investment were both weaker than expected in August,underlining challenges Beijing faces in pushing the economy to reach its full-year economic-growth target of about 7%.

Moreover, the volume of industrial production in August grew by only 6.1% yoy, while experts had expected 6.5% growth. The only pleasant surprise was the data on retail sales, which in August rose 10.8% yoy, while analysts had expected an increase of 10.5%.