INSUBCONTINENT EXCLUSIVE:
SHANGHAI: 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 per cent to 26,094.79, while the China Enterprises Index lost 1.9 per cent to
10,359.43 points.
For the week, HSI was up 0.1 per cent, while HSCE slipped 0.1 per cent.
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 per cent, 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 per cent, while the IT sector
dipped 2.55 per cent, the financial sector ended 1.36 per cent lower and the property sector dipped 1.01 per cent.
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 per cent, while the biggest loser was CSPC Pharmaceutical Group Ltd, which fell 12.50 per
cent.
Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.35 per cent, while Japan's Nikkei index closed down 2.02 per
cent.
The yuan was quoted at 6.895 per US dollar at 08:09 GMT, 0.17 per cent weaker than the previous close of 6.8835.
The top gainers among
H-shares were Hengan International Group Company Ltd up 1 per cent, followed by Byd Co Ltd , gaining 0.09 per cent
The three biggest
H-shares per centage decliners were CSPC Pharmaceutical Group Ltd, which was down 12.50 per cent, ZhongAn Online P C Insurance Co Ltd,
which fell 7.4 per cent and China Gas Holdings Ltd, down by 6.0 per cent.
About 1.39 billion Hang Seng index shares were traded, roughly 82
per cent 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 per cent
over the Hong Kong-listed H-shares
