HK stocks fall on fears of slowdown in China factory growth

02 Oct, 2018

Resuming trade after a public holiday on Monday, the benchmark Hang Seng Index was down 1.64 percent at 27,333.71, while the Chinese H-shares listed in Hong Kong fell 1.73 percent at 10,827.7.

Growth in China's manufacturing sector sputtered in September as both external and domestic demand weakened, two surveys showed on Sunday.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.02 percent while Japan's Nikkei index rose 0.42 percent.

The top gainers among H-shares were People's Insurance Group of China Co Ltd, up 3.98 percent, followed by CNOOC Ltd, up 1.55 percent and China Telecom Corp Ltd , up 1.54 percent.

The three biggest H-shares percentage decliners were China Gas Holdings Ltd, down 8.58 percent, Air China Ltd , down 6.2 percent and Guangzhou Automobile Group Co Ltd, down 5.4 percent.

MGM China led slide in gaming stocks after Chinese territory of Macau posted a slightly slower-than-estimated growth in gambling revenues in September

The sub-index of the Hang Seng index tracking energy shares rose 0.6 percent while the IT sector fell 1.3 percent.

The top gainer on Hang Seng was CNOOC Ltd, up 1.55 percent, while the biggest loser was Swire Pacific Ltd , down 3.56 percent.

Copyright Reuters, 2018
 

 

 

 

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