Asian stocks declined on Friday, taking cues from a weak overnight session on Wall Street as solid US data bolstered expectations that the Federal Reserve will continue to aggressively raise interest rates. Global recession fears also gripped markets as the World Bank and IMF slashed growth forecasts for key economies, while major US companies issued dire economic outlooks. Shares in Australia, Japan, South Korea and Hong Kong weakened, while mainland China stocks also slumped despite better-than-expected economic numbers.
