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China Stocks Fall From Eight-Week High Amid Economic Growth Data

China’s stocks fell, dragging the benchmark index from an eight-week high, after the release of data showing the weakest quarterly expansion since 2009.

The Shanghai Composite Index slipped 0.1 percent to 3,386.70 at the close, erasing an advance of as much as 1 percent, as five stocks dropped for every three that gained. Technology and telecom companies, the best performers over the past week, led declines. Brokerage shares rose as market turnover jumped to a seven-week high in Shanghai and margin debt increased for a seventh day.

China’s gross domestic product rose 6.9 percent in the three months through September, the National Bureau of Statistics said Monday, beating economists’ estimates for 6.8 percent. Still, that was less than the government’s target of 7 percent for this year. Industrial output in September rose 5.7 percent, trailing estimates.

“The growth number beat the estimate, but it’s still less than the government target,” said Yen Chiu, a Hong Kong-based trader at Shenwan Hongyuan Group Co.

The benchmark measure surged 6.5 percent last week for the steepest weekly gain in four months as traders speculated the government will accelerate reforms of state-owned...


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