China stocks snap three-day rally as economy slows amid trade war, fallout from Meng Wanzhou arrest
- China’s November industrial output and retail sales growth both miss market expectations
- Hang Seng Index ends down 1.6 per cent; the Shanghai Composite Index drops 1.5 per cent
Hong Kong and mainland Chinese stocks fell sharply on Friday to close lower, breaking a three-day winning streak, as investors were rattled by data showing China’s economy weakened further amid the trade war and worsening diplomatic tensions between Beijing and Ottawa.
Hong Kong’s benchmark Hang Seng Index dropped 1.6 per cent, or 429.56 points, to close at 26,094.79.
For the week, it was marginally higher by 0.1 per cent, or 31 points.
The Hang Seng China Enterprises Index, known as the H-shares index, declined 1.9 per cent, or 197.42 points, to 10,359.43. It booked a weekly loss of 0.1 per cent.
Average daily turnover for the main board was HK$70.3 billion, down 5 per cent from last week.
On the mainland, the Shanghai Composite Index retreated 1.5 per cent, or 40.31 points, to 2,593.74. The index logged a 0.5 per cent loss for the week.
