China Stocks Lead Asia Lower After Annual Growth Target Cut

HONG KONG (AP) — A tumble in Chinese stocks dragged most other Asian benchmarks lower Thursday after China cut its economic growth target. Premier Li Keqiang said in a report to China's ceremonial national legislature that the goal was part of overall efforts to create a "moderately prosperous society," though he added that maintaining stable growth would be more difficult. Analysts said markets had mostly factored the new GDP growth target into prices but the news would still affect Asian trading. [...] from a domestic point of view, if I were a small business owner in China, 7 percent growth feels almost like a recession if I've been enjoying double digit numbers the last five years." U.S.

Topics:  hong kong ap    chinese   asian   premier li keqiang   analysts   gdp   u.s     a   i   china   stocks   cut   growth target   benchmarks   
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