Hong Kong stocks end at over 5-month low on China slowdown worries

SHANGHAI: Hong Kong shares ended at a more than five-month low on Wednesday, while mainland China stocks also fell sharply on persistent concerns over a slowdown in the world’s second-largest economy.

The benchmark Shanghai Composite index dropped 1.9% to 3,215.2, its the lowest closing level since Aug. 4. The blue-chip CSI 300 index was down 1.9% to end at its lowest closing level since Aug. 3 of 4,082.4.

The start-up board ChiNext Composite index dropped 3.6%, while Shanghai’s tech-focused STAR50 index fell 3.5%.

In Hong Kong, the benchmark Hang Seng Index ended 1.2% lower at 19,268.7, its lowest closing since March 15.

Analysts attributed the weakness in the stock market to worries over the Chinese economy.

“A raft of recently announced policy support has not put an end to the struggles of China’s stock market,” Capital Economics said in a note earlier this week, adding that the economy will continue to slide, as it faces multiple challenges.