Asia markets pare declines after stronger than expected China data

China posted 4.9% growth in the July to September quarter from a year earlier, according to a release from China's National Bureau of Statistics on Wednesday. Economists expected the country's economy to report growth of 4.4%, according to a Reuters poll.

China's economy grew 4.9% year-on-year in the third quarter, higher than the 4.4% expansion that was expected from economists polled by Reuters.forecast that its third-quarter net profit will come in between 9.55 billion yuan to 11.55 billion yuan, a year-on-year increase of about 67% to 101.99%. For comparison, net profit for the third quarter of 2022 stood at 5.72 billion yuan.

The biggest cut to price targets was for an energy company's stock. Deutsche Bank analysts lowered their 12-month share price forecast by 36% on Oct. 16. The stock has nearly halved in value this year.plans to tighten its restrictions

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