"Market Jitters: China's Economic Data Sends Asian Stocks Tumbling"

Asian stocks remained range-bound as strong U.S. data reduced expectations for early interest rate cuts by the Federal Reserve, while Chinese shares continued to plummet following disappointing GDP figures. The weak performance of Chinese stocks, at multi-year lows, contributed to broader market pressure in Asia, with Hong Kong's index trading at its worst level since late 2022. Japanese markets were among the few outliers, with the Nikkei and Topix rising, but the Bank of Japan is expected to show sustained decline in inflation, giving little impetus to begin tightening its ultra-dovish policy.