Asian stocks fell with the regional benchmark index falling the most in two weeks, as Chinese economic reports prompted speculation the country will d

Asian stocks fell with the regional benchmark index falling the most in two weeks, as Chinese economic reports prompted speculation the country will do more to fight inflation and U.S. earnings disappointed.

BHP Billiton Ltd., the world’s No. 1 mining company that counts China as its biggest market, dropped the most in two months as commodity prices slumped. China Merchants Holdings International Ltd., which has interests in ports moving about a third of the country’s container traffic, dropped 2.5 percent. James Hardie Industries SE, the biggest seller of home siding in the U.S., declined 1.9 percent in Sydney, set for its longest losing streak since July 2009.

The MSCI Asia Pacific Index fell 1 percent to 139.09 as of 11:28 a.m. in Tokyo, with about four stocks declining for each that rose. China reported economic growth accelerated to 9.8 percent in the fourth quarter even as the rate of inflation slowed to 4.6 percent from 5.1 percent in November.

“It’s fair to say that this data will add to pressure on China to tighten further,” said Shane Oliver, Sydney-based head of investment strategy at AMP Capital Ltd., which manages about $93 billion. “The figures aren’t overly worrying, but with growth continuing along at a fairly solid pace and inflationary pressures still evident, it’s all consistent with further tightening.”

The Asia Pacific gauge yesterday closed at its highest level in 2 1/2 years after Apple Inc. and International Business Machines Corp. reported earnings that exceeded analysts’ estimates.

Hong Kong’s Hang Seng Index fell 1.1 percent while the Shanghai Composite Index slipped 0.8 percent.

Japan’s Nikkei 225 Stock Average sank 1.1 percent and South Korea’s Kospi Index slipped 0.4 percent. Australia’s S&P/ASX 200 Index dropped 1 percent, while New Zealand’s NZX 50 Index declined 0.2 percent.

Futures on the Standard & Poor’s 500 Index were little changed. The index declined 1 percent yesterday in New York, its biggest drop since November, after Goldman Sachs reported fourth-quarter net income decreased to $3.79 a share. Estimates of 22 analysts surveyed by Bloomberg averaged $3.79 a share.