Lower GDP Whomps China

China's mainland indices suffered their worst one-day fall in nearly three months as China announced its GDP growth eased to 11.5% in the third quarter vs. a record 12% in the second quarter of 2007.

Beijing also announced that inflation rose by 4.1% over the same period last year, climbing 20 basis points from the January to August period.

The Shanghai Composite -- the mainland's benchmark index -- plunged 280 points, or 4.8%, on the news, to 5,562.39 points.

Investors in other Asian markets were relaxed however, with most other indices gaining. In neighboring Hong Kong, the Hang Seng rose 520 points, or 1.78%, to 29,854 points, on expectation of a potential Federal Reserve rate cut. ...