China, HK stocks fall as slowing services growth, property woes sour mood

** Vanke's Shenzhen-listed shares lost 2.7% to the lowest level since late 2006, while its Hong Kong-traded stock dropped 3%. ** China's CSI300 Real Estate Index fell 2.1%, while Hong Kong's Hang Seng Mainland Property Index weakened 1.5%.

China and Hong Kong stocks declined on Wednesday as the country's slowing services growth added to worries about an economy grappling with a prolonged property slump.

** Both the Shanghai Composite Index and China's blue-chip CSI300 Index closed down 0.5%. Hong Kong's Hang Seng dropped 1.3%. ** China's services activity expanded at its slowest pace in five months in November, a private survey released on Wednesday showed.

** The grim services PMI results dampened risk appetite already curbed by financial woes at Chinese property major Vanke . ** "In 2026, we expect export growth to moderate while the property sector, which peaked in mid-2021, may extend its slide for another year, with little hope for a turning point in 2026," Lu Ting, chief China economist at Nomura, said in a report.

** Property shares continued to sink after Fitch Ratings on Tuesday placed Vanke - which seeks to delay payment on an onshore bond due this month - on "Rating Watch Negative", and downgraded its subsidiary's notes. ** Vanke's Shenzhen-listed shares lost 2.7% to the lowest level since late 2006, while its Hong Kong-traded stock dropped 3%.

** China's CSI300 Real Estate Index fell 2.1%, while Hong Kong's Hang Seng Mainland Property Index weakened 1.5%. ** Metal producers and materials makers climbed after local media reports that some key material suppliers to lithium battery makers have raised prices thanks to booming demand for energy storage, and China's campaign against excessive competition and price wars.

** "There's not enough money flowing into the market," Topsperity Securities said in a report. Investors are awaiting policy stimulus and "inadequate liquidity limits the market upside."

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