"Chinese inflation and earnings disappoint, causing Asian stocks to slip"
Asian stocks slipped as weak Chinese inflation data and disappointing earnings weighed on investor sentiment. Moody's downgrade of 10 banks and warning of potential downgrades for six more added to concerns over weakening profitability and funding risks. SoftBank and Nikon reported weak earnings, causing Japan's Nikkei 225 to decline. Chinese stocks also fell after inflation contracted for the first time in nearly two years. However, consumer spending showed slight improvement. South Korea's KOSPI rose on hopes of interest rate cuts, while Australia's ASX 200 gained due to strong performances by bank stocks, particularly Commonwealth Bank of Australia.