China’s Shanghai and Shenzhen CSI 300 and the Shanghai Composite Index fell slightly, while Hong Kong’s Hang Seng rose slightly after a mixed set of economic readings from the mainland.
Chinese industrial production rose less than expected in October, as did investment in fixed assets. Housing prices also contracted during the month, indicating continued pressure on the real estate market.
But retail sales grew much more than expected, largely supported by the Golden Week holiday. The reading raised some hopes that retail spending would improve further, especially as Beijing mobilizes for more stimulus.
Chinese stock indices are set to lose about 2% this week, while the Hang Seng Index is down more than 6%. The losses came as China’s latest round of financial measures disappointed investors who had hoped for more targeted measures.
It also raised fears of a renewed trade war with the United States after Donald Trump won the 2024 presidential elections.
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