Shanghai — Asian shares fell on Monday as new data showed China’s economy slowed slightly in the second quarter, compounded by the fear of a full-scale Sino-US trade war looming over markets. Official data showed China’s economy grew 6.7% in the second quarter of 2018, cooling from the 6.8% growth registered in each of the previous three quarters. While the GDP figures were in line with market expectations, the new data also showed slower than expected growth in China’s industrial output, pointing to slowing momentum and prompting some analysts to call for stronger government measures to support growth. Taken together, the data show an economy continuing to slow under the influence of a multi-year crackdown on excessive financial risk, even as trade war headwinds gather. But Jim McCafferty, head of equity research, Asia ex-Japan at Nomura, said China’s underlying economic data "appear to be quite robust". "I would be incredulous if China’s GDP growth could continue at the level it’s...
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