Hong Kong: Stocks fall as soft China data revive slowdown concerns

[HONG KONG] Hong Kong stocks fell on Thursday, as a flurry of soft China data rekindled concerns the country's economy could start to lose some steam.

The Hang Seng index fell 0.4 per cent, to 27,777.20, while the China Enterprises Index lost 0.8 per cent, to 11,101.14 points.

Data published on Thursday showed China's fixed-asset investment, a key growth driver for the nation's economy, grew 7.8 per cent in the first eight months of the year, the weakest pace since December 1999 and cooling from 8.3 percent in January-July.

Factory output also disappointed in August with the weakest growth rate in nine months.

Most sectors fell on Thursday, led by financials and telecommunication shares.

But an index tracking Chinese developers rose sharply, up nearly 2 per cent.

REUTERS