BEIJING, July 20 — Asian stocks ended the week almost unchanged as the International Monetary Fund said risks of a slowdown in Chinese growth are increasing while the Federal Reserve allayed concern the US is planning to curb stimulus.

GCL-Poly Energy Holdings Ltd. surged 13 per cent for the week on speculation tariffs on polysilicon shipped to China will cut supplies from the US and South Korea, boosting earnings at the world’s largest maker of materials used in solar panels. Taiwan Semiconductor Manufacturing Co., the world’s largest contract manufacturer of chips, slumped 11 per cent in Taipei after forecasting sales that trailed analyst estimates. Nissan Motor Co., a Japanese carmaker that gets about 80 per cent of sales abroad, climbed a third week as the yen weakened against the dollar.

The MSCI Asia Pacific Index ended the week at 134.93, up from 134.88 on July 12, to continue its longest streak of gains since the week ending March 15. Chairman Ben S. Bernanke told a House committee there was no preset course for the US central bank’s asset purchases, tempering speculation the Fed would begin to trim its US$85 billion (RM27.5 billion)-a-month bond-buying program as early as September.

“The chances are that we see growth in the US economy strengthening over the next 12 months,” David Cassidy, the Sydney-based head of equity strategy for Australia at UBS AG, said by phone. “There’s scope for equities to move higher with earnings growth and a gradual economic recovery.”

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Gains on the benchmark regional equities gauge were limited to 4.3 per cent this year, compared with an 18 per cent surge on the Standard & Poor’s 500 Index, as concern mounted that a manufacturing slowdown in China and the worst cash shortage in a decade may curb earnings growth. The MSCI Asia Pacific Index is trading at 13.2 times average estimated earnings compared with 15.3 for the S&P 500 and 13.4 times for the Stoxx Europe 600 Index, according to data compiled by Bloomberg.

China’s economy, the world’s second largest, expanded 7.5 per cent in the three months to June 30, a report showed July 15. That matched the median forecast of 45 economists surveyed by Bloomberg.

The International Monetary Fund said July 17 risks are increasing that China’s economic growth will fall short of the institution’s 7.75 per cent annual forecast as it urged the nation to follow through on reforms to sustain expansion. Premier Li Keqiang said this month restructuring should proceed as long as growth and employment stay above unspecified limits. — Bloomberg