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Asia stocks mostly lower after China GDP; profit-taking hits Nikkei

Asian share markets were mostly lower on Tuesday following a mixed morning session as investors digested key data from China.

China's gross domestic product (GDP) grew 7.3 percent on year in the July-September period, the slowest pace in nearly six years. Still, the figure was above forecasts for a 7.2 percent rise. Other data showed September industrial output increasing 8 percent on year, beating estimates, but retail sales and fixed-asset investment both missed expectations.

Read MoreChina GDP data: 5 key takeaways

"While disappointing data may spark another round of growth concerns and trigger risk aversion, it may also raise bets that more targeted measures will be implemented to reach the official growth target of 7.5 percent," said Vishnu Varathan, senior economist at Mizuho Bank in a note.

Symbol
Name
Price
 
Change
%Change
NIKKEI
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HSI
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ASX 200
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SHANGHAI
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KOSPI
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CNBC 100
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Nikkei down 2%

Japan's benchmark Nikkei fell on profit-taking following Monday's 4 percent rally, which marked the index's biggest daily rise in more than a year and a one-week closing high. The yen strengthened 0.5 percent against the greenback, which also weighed on sentiment and pressurized exporters.

Mitsubishi Motors, Fanuc and Fast Retailing tanked as much as 3 percent each.

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China markets lower

Mainland shares eased nearly 1 percent, ending at their weakest levels in a month. Railway firm China CNR pared gains to close flat on news the firm is making a pitch to sell high-speed trains to California.

Hong Kong's benchmark Hang Seng Index fell ahead of official talks later in the day between senior government officials and student leaders behind the pro-democracy protests.

Read MoreWhy HK protests won't end soon, despite talks

China Mobile lost 2 percent after quarterly revenue fell for the first time in five years.

ASX up 0.1%

Australia's benchmark S&P ASX 200 rose to a new three-week high, extending gains into a sixth session. Newly-released minutes from the Reserve Bank of Australia reiterated the rhetoric of a "period of stability for rates," suggesting that policymakers won't be changing their stance on monetary policy anytime soon.

Qantas rose 1.5 percent after unveiling new business class seats for its A330 aircraft.

Meanwhile, the Australian dollar rose to a four-day high of $0.8828 against the greenback.

Kospi 0.8% lower

South Korean shares retreated after rallying 1.5 percent on Monday, which was a one-week high for the benchmark Kospi and its largest daily gain in eleven months.

Tech firms led the declines; LG Electronics and Samsung Electronics lost over 2 percent each.

Nifty 0.6% higher

Indian shares avoided Asia-wide losses after the government promised on Monday to open up the coal industry to private players, the latest step in Prime Minister Modi's reforms.