Investing.com - Asian stocks fell on Monday after China set a gross domestic product growth target of 7.5% for 2012, below what markets had been expecting.
During Asian trading on Monday, Hong Kong's Hang Seng Index was down 1.09%, Australia's S&P/ASX200 was down 0.42%, while Japan’s Nikkei 225 Index was down 0.31%.
China's target for 7.5% economic growth for 2012 sent share prices falling.
Europe, a key Chinese export market, won't escape the debt crisis without dipping into a recession, or at least parts of it will, which will cut demand for Chinese goods.
Meanwhile companies such as Australian mining concerns that benefit from a stronger Chinese economy also suffered.
In Hong Kong, the top decliners included China Life, down 3.41%, Li & Fung, down 2.18%, and CCB down 1.98%.
In Australia, the top decliners included Western Areas NL, down 4.58%, Ardent Leisure Group, down 3.86%, and Monadelphous Group, down 3.62%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.20%, while Germany ’s DAX 30 futures signaled a loss of 0.16%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.13%.
Dow Jones Industrial Average futures were down 0.15% while the S&P 500 futures were down 0.17%.
On Monday Switzerland will release retail sales figures, while the U.K. will release data on service sector growth.
Elsewhere, the eurozone will publish retail sales numbers for the entire bloc as well as revised data on service sector growth and a report on investor confidence.
Later Monday, the U.S. is to produce government data on factory orders, while the Institute of Supply Management is to release a report on service sector activity.
During Asian trading on Monday, Hong Kong's Hang Seng Index was down 1.09%, Australia's S&P/ASX200 was down 0.42%, while Japan’s Nikkei 225 Index was down 0.31%.
China's target for 7.5% economic growth for 2012 sent share prices falling.
Europe, a key Chinese export market, won't escape the debt crisis without dipping into a recession, or at least parts of it will, which will cut demand for Chinese goods.
Meanwhile companies such as Australian mining concerns that benefit from a stronger Chinese economy also suffered.
In Hong Kong, the top decliners included China Life, down 3.41%, Li & Fung, down 2.18%, and CCB down 1.98%.
In Australia, the top decliners included Western Areas NL, down 4.58%, Ardent Leisure Group, down 3.86%, and Monadelphous Group, down 3.62%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.20%, while Germany ’s DAX 30 futures signaled a loss of 0.16%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.13%.
Dow Jones Industrial Average futures were down 0.15% while the S&P 500 futures were down 0.17%.
On Monday Switzerland will release retail sales figures, while the U.K. will release data on service sector growth.
Elsewhere, the eurozone will publish retail sales numbers for the entire bloc as well as revised data on service sector growth and a report on investor confidence.
Later Monday, the U.S. is to produce government data on factory orders, while the Institute of Supply Management is to release a report on service sector activity.