You are here

Hong Kong: Stocks end down, resources and industrial firms weigh

[HONG KONG] Hong Kong stocks followed other Asian markets lower, dragged down by resources and industrial firms, amid worries over China's economic growth after sluggish economic data.

The Hang Seng index fell 1.0 per cent, to 28,851.69 points, while the China Enterprises Index lost 1.6 per cent, to 11,412.75 points.

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 top gainers among H-shares were Air China Ltd up 1.18 per cent, followed by China Vanke Co Ltd gaining 0.18 per cent.

Market voices on:

The three biggest H-shares percentage decliners were Byd Co Ltd which has fallen 4.63 per cent, New China Life Insurance Co Ltd which has lost 4.4 per cent and PetroChina Co Ltd down by 3.1 per cent.

China's A-shares were trading at a premium of 30.44 per cent over the Hong Kong-listed H-shares.

The sub-index of the Hang Seng index tracking energy shares dipped 2.4 per cent while the industrial sector fell 2.1 per cent.