Hong Kong stocks fall as China posts weak consumer, factory data


Reuters | Updated: 14-12-2018 14:11 IST | Created: 14-12-2018 14:11 IST

Hong Kong stocks slid on Friday, as concerns deepened over the health of the world's second largest economy after China posted weak consumer and factory data.

** The Hang Seng index fell 1.6 percent to 26,094.79, while the China Enterprises Index lost 1.9 percent to 10,359.43 points.

** For the week, HSI was up 0.1 percent, while HSCE slipped 0.1 percent.

** China's November retail sales grew at their weakest pace since 2003 and industrial output rose the least in nearly three years as domestic demand softened further.

** China is still on track to hit its 2018 GDP growth target of around 6.5 percent, but the economy faces more external uncertainties next year, a spokesman for China's statistics bureau said on Friday.

** The sub-index of the Hang Seng tracking energy shares dipped 1.5 percent, while the IT sector dipped 2.55 percent, the financial sector ended 1.36 percent lower and the property sector dipped 1.01 percent.

** Drugmakers and Apple suppliers were pummelled the most in the Hang Seng Index, as they reacted to negative news.

** The top gainer on the Hang Seng was Hengan International Group Company Ltd, which gained 1 percent, while the biggest loser was CSPC Pharmaceutical Group Ltd, which fell 12.50 percent.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.35 percent, while Japan's Nikkei index closed down 2.02 percent.

** The yuan was quoted at 6.895 per U.S. dollar at 08:09 GMT, 0.17 percent weaker than the previous close of 6.8835.

** The top gainers among H-shares were Hengan International Group Company Ltd up 1 percent, followed by Byd Co Ltd , gaining 0.09 percent

** The three biggest H-shares percentage decliners were CSPC Pharmaceutical Group Ltd, which was down 12.50 percent, ZhongAn Online P & C Insurance Co Ltd, which fell 7.4 percent and China Gas Holdings Ltd, down by 6.0 percent.

** About 1.39 billion Hang Seng index shares were traded, roughly 82 percent of the market's 30-day moving average of 1.69 billion shares. The volume traded in the previous trading session was 1.80 billion.

** At close, China's A-shares were trading at a premium of 18.21 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Sunil Nair)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback