Hong Kong's Hang Seng index tumbled 3.68%, led by declines in real estate and consumer stocks. Alibaba Health fell the most while Longfor Group and Meituan also dropped sharply. The CSI 300, a major Chinese stock index, dropped to its lowest in nearly five years when China's economic growth for the fourth quarter came in below expectations. The Nikkei 225 in Japan fell for two consecutive days, dropping 0.4% despite recently reaching a 33-year high. The broader Topix index fell 0.3%.