China stocks fall, resources knocked by slowdown concerns; HK down

Last Updated: Wed, Nov 15, 2017 12:00 hrs
China Markets

SHANGHAI: China's blue-chip index was poised for its biggest one-day loss in three months, as resources shares slumped amid signs of slowing industrial production growth.

The CSI300 index fell 0.8 percent to 4,066.30 points at the end of the morning session, while the Shanghai Composite Index lost 0.7 percent to 3,405.04 points.

An index tracking major material firms lost 1.9 percent, as prices of nickel, zinc and steel tumbled in Shanghai.

"The selloff appeared to be sparked by the weaker-than-expected Chinese industrial production and fixed asset investment data ... Both series showed a slowing of growth in the Chinese economy," said ANZ in a report.

A batch of data released on Tuesday showed China's economy cooled further last month, with industrial output, fixed asset investment and retail sales missing expectations as the government extended a crackdown on debt risks and factory pollution. The largest percentage gainers in the main Shanghai Composite index included SJEC Corp, up 10.01 percent, Hebei Hengshui Laobaigan Liquor Co Ltd, gaining 9.34 percent, and Epoxy Base Electronic Material Corp Ltd , up by 8.67 percent.

The largest percentage losses in the index were Keda Clean Energy Co Ltd down 10 percent, followed by Changyuan Group Ltd losing 9.96 percent and Xiamen King Long Motor Group Co Ltd down 9.74 percent.


In Hong Kong, the Hang Seng index dropped 0.7 percent to 28,937.44 points, while the Hong Kong China Enterprises Index lost 1.5 percent to 11,429.69.

Outperformers in H-shares included Air China Ltd China Vanke Co Ltd and China Shenhua Energy Co Ltd .

The three biggest H-shares percentage decliners were Byd Co Ltd which fell 4.28 percent, New China Life Insurance Co Ltd off 3.4 percent and PetroChina Co Ltd down 3.3 percent.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.6 percent while Japan's Nikkei index was down 1.4 percent.

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