Asian stocks track US lower on renewed fed fears

Asian stocks tracked losses in the U.S. on renewed concern the Federal Reserve will start scaling back stimulus ahead of schedule after a report showed that the U.S. economy grew faster than predicted. Investors in Asia were also hanging back on Friday ahead of a weekend meeting in Beijing where China's communist leaders are expected to lay out their long-term plan for the world's No. 2 economy. A report that showed strong growth in Chinese exports last month was not enough to counter investor caution, AP reported. Japan's Nikkei 225 sank 1.3 percent to 14,041.95 while Seoul's Kospi dropped 0.8 percent to 1987.79. Hong Kong's Hang Seng slid 0.6 percent at 22,746.53. In mainland China the Shanghai Composite fell 1 percent to 2,106.95 while the smaller Shenzhen Composite Index tumbled 1.5 percent to 996.23. Australia's S&P ASX 200 fell 0.8 percent to 5,390.40. Benchmarks in Singapore, Taiwan, Thailand, the Philippines and Indonesia also fell.