China, HK stocks fall as COVID outbreaks, economic data weigh

** That followed Wednesday's data showing China's factory gate inflation fell in October, the first monthly decline since 2020. ** Gloomy economic outlook offset optimism that China may relax COVID restrictions next spring. ** Most sectors fell in China, with defence, tech and environment protection stocks leading the declines. ** In Hong Kong, tech stocks slumped 2.7%, while Chinese developers lost 1.3%.

China and Hong Kong stocks fell on Thursday, as worsening COVID situations and feeble economic data outweighed lingering optimism toward an eventual economic reopening. ** China's bluechip CSI300 index fell 1%, to 3,675.94 by the lunch break, while the Shanghai Composite Index lost 0.5%, to 3,032.12.

** In Hong Kong, the Hang Seng index dropped 1.9%, to 16,053.71 points, while the Hong Kong China Enterprises Index lost 2.1%. ** China reported 9,005 new COVID-19 infections for Nov. 9, including both symptomatic and asymptomatic cases, compared with 8,335 new cases a day earlier.

** In China's southern manufacturing hub of Guangzhou, millions of residents are being tested for COVID-19 in a fight against city's worst outbreak so far. ** Stringent COVID curbs have added downward pressure on an economy already suffering from a lingering property debt crisis.

** China's new yuan loans likely slumped in October from September, a Reuters poll showed. ** That followed Wednesday's data showing China's factory gate inflation fell in October, the first monthly decline since 2020.

** Gloomy economic outlook offset optimism that China may relax COVID restrictions next spring. Such hope triggered a strong rally in Chinese shares last week. ** Most sectors fell in China, with defence, tech and environment protection stocks leading the declines.

** In Hong Kong, tech stocks slumped 2.7%, while Chinese developers lost 1.3%.