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Asia, News

China stocks mixed as weak growth data weighs; Hong Kong down

SHANGHAI, Sept 15 (Reuters) – Chinese shares traded mixed on Wednesday as weak factory and retail growth data weighed on sentiment. Hong Kong stocks were dragged lower by tech and casino gaming stocks.

The CSI300 index fell 0.4% to 4,899.96 at the end of the morning session, while the Shanghai Composite Index gained 0.3% to 3,673.86.

The Hang Seng index dropped 1.0% to 25,259.66. The Hong Kong China Enterprises Index lost 0.7% to 9,022.64.

** China’s factory and retail sectors faltered in August, with output and sales growth hitting one-year lows as fresh coronavirus outbreaks and supply disruptions threatened the country’s economic recovery.

** The consumber staples sub-index and the tourism sub-index shed 1.3% each as the country fights an outbreak of COVID-19 in the southeast Fujian province and a city there has imposed travel curbs and closed public venues.

** A sub-index tracking energy shares rose 2.6% after oil prices climbed.

** In Hong Kong, tech stocks declined after state news agency Xinhua said China will push for a more ‘civilised’ internet by strengthening oversight over the likes of news websites and online platforms.

** The Hang Seng Tech Index dropped 1.9%. Internet giants Tencent Holdings, Alibaba Group, and Meituan lost 2.8%, 2%, and 3.4%, respectively.

** Shares of Macau casino gaming companies listed in Hong Kong tumbled as Macau kicked off public gaming consultation ahead of casino rebidding.

** China CSI index tracking HK-listed gaming stocks slumped 18%, with constituent Sands China Ltd down 26.5%, the biggest daily decliner on the Hang Seng Index.

** Insurance giant AIA Group shed 2.2%, dragging the city’s benchmark down 47 points.

** The energy sub-index added 1.2% on strong oil prices. (Reporting by Shanghai Newsroom; editing by Uttaresh.V)


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