GLOBAL MARKETS-Asian stocks slip as China data continues to disappoint

Asian stocks stumbled on Wednesday, as more disappointing Chinese economic data and the absence of meaningful stimulus from Beijing continued to weigh on investor sentiment. MSCI's gauge of Asia Pacific stocks outside Japan widened losses to decline 1.17% to an 11-week low. China's new home prices fell for the first time this year in July, data showed Wednesday, the latest in a string of downbeat numbers that point to a rapid loss in economic momentum and underline the urgency for more bolder policy support to shore up activity.