China stocks lower after GDP data as traders weigh prospects for stimulus measures

Chinese stock market: Chinese stocks were subdued on Friday, heading for a second week of losses after data showed the economy expanded slightly beyond analysts' expectations, keeping up pressure on policymakers for more stimulus.

The blue-chip CSI300 Index was down 0.4 per cent, while the Shanghai Composite Index eased 0.33 per cent in early trade after the data. Hong Kong's benchmark Hang Seng was little changed.

China's economy expanded 4.6 per cent in the third quarter from a year earlier, official data showed, surpassing the 4.5 per cent figure expected in a Reuters poll of economists, slowing from the previous quarter's 4.7 per cent.

China stocks are down roughly 15 per cent from an Oct. 8 peak after a turbulent few weeks, as caution has outpaced the euphoria that brought a surge of more than a fifth in just a week in late September after Beijing's stimulus measures.

They fell sharply on Thursday after a closely-watched housing policy briefing disappointed investors for lack of fresh stimulus measures.

For the year, however, the CSI300 index is up 10 per cent, while the Shanghai index is up nearly 7 per cent.