Asia stocks slip as data shows China’s economy grew less than expected in the third quarter

SINGAPORE — Stocks in Asia-Pacific mostly slipped on Monday as investors reacted to the release of key Chinese economic data

In mainland China, the Shanghai composite slipped 0.12% to close at 3,568.14 while the Shenzhen component declined 0.458% on the day to 14,350.02. The Hang Seng index in Hong Kong fell anpit 0.4%, as of its final hour of trading

China’s gross domestic product grew 4.9% in third quarter, official data showed Monday. That was below expectations of analysts in a Reuters poll for a 5.2% expansion. Industrial production also missed forecasts, rising 3.1% in September, against expectations in a Reuters poll for a 4.5% increase

Elsewhere, the Nikkei 225 in Japan shed 0.15% to close at 29,025.46 while the Topix index declined 0.23% to end the trading day at 2,019.23. South Korea’s Kospi closed 0.28% lower at 3,006.68

Shares in Australia outperformed, with the S&P/ASX 200 advancing 0.26% to close at 7,381.10

MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.25%

Oil prices were higher in the afternoon of Asia trading hours, with U.S. crude futures gaining 1.08% to $83.17 per barrel. International benchmark Brent crude futures rose 0.66% to $85.42 per barrel