On Thursday, Asian markets traded lower despite strong economic data from China. The reports showed that Chinese economy expanded by 8.9% y/y in the third-quarter, inline with the market expectations of 9%. However, concerns increased that such a strong growth could push policy makers to withdraw stimulus packages. Worries also increased that possible uptick in inflation might force the central bank to raise interest rates and tighten bank lending. After the record lending growth in 1H09, China has begun to employ 'Dynamic micro-tuning' to limit rapidly rising loan growth and check new investment in sectors with overcapacity. We view these measures as positive as they try to avoid a boom-bust cycle and help achieve sustainable growth in the long term. We remain overweight on Chinese equities as we see a possibility of further consensus earnings upgrades and the valuations looks attractive to us.