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Asia Markets: Asian markets slump after disappointing data on China’s growth

Equity markets across the Asia-Pacific region pared early gains Thursday morning after disappointing economic data out of China, as investors awaited a rate decision from the Bank of England.

China’s business activity slowed further last month, falling short of expectations, which will likely set off a fresh discussion on the deceleration of the country’s economy after a strong first half.

Japan’s Nikkei Stock Average NIK, -0.21% and the Shanghai Composite Index SHCOMP, -0.17% both pared gains after the release; both were recently flat. In Australia, the S&P/ASX 200 XJO, -0.20% was off 0.2% after being flat for much of early trading, despite an upbeat domestic jobs report.

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