Hong Kong Stocks Continue Slide As More Disappointing Economic Data and Property Crisis Weigh on Sentiment

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Hong Kong Stocks Continue Slide As More Disappointing Economic Data and Property Crisis Weigh on Sentiment

South China Morning Post2023-08-14

Hong Kong stocks slid as the latest economic data gave investors more cause to doubt a rebound in growth and the property crisis continued to weigh on sentiment.The Hang Seng Index slid 1.8 percent to...

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Andrewinho
·2023-08-14
Nice!! 👏👏👏
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Guavaxf30
·2023-08-14
China continues to ruin the market mood. Sadly many Chinese bulls are stucked and will be for some time. Beijing needs to realise their big mistakes. Less we see another Great Famine happen. Please remember whay happened with Mao's Great Leap Forward disaster.
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The tech index slipped 2 percent while the Shanghai Composite Index declined 0.8 percent.All 80 index members declined. Alibaba Group lost 2.7 percent to HK$92.75, rival JD.com tumbled 3.1 percent to HK$141.60 and Tencent Holdings declined 1.5 percent to HK$331. EV maker BYD tumbled 5 percent to HK$241.80, while Macau casino operator Sands China slid 4.7 percent to HK$27.25.Embattled property giant Country Garden crashed 10 percent to HK$0.88, a historical low, as investors continue to sell the company’s stocks amid fears of a debt restructuring. Country Garden Real Estate Group is suspending trading of 11 of its onshore bonds from Monday, according to the Shenzhen Stock Exchange.China’s credit growth in July came in well below market expectations, with new aggregate financing standing at 528 billion yuan (US$72.8 billion) in July, less than half of consensus expectations. 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Sadly many Chinese bulls are stucked and will be for some time. Beijing needs to realise their big mistakes.&nbsp; Less we see another Great Famine happen. Please remember whay happened with Mao's Great Leap Forward disaster.","listText":"China continues to ruin the market mood. Sadly many Chinese bulls are stucked and will be for some time. Beijing needs to realise their big mistakes.&nbsp; Less we see another Great Famine happen. Please remember whay happened with Mao's Great Leap Forward disaster.","text":"China continues to ruin the market mood. Sadly many Chinese bulls are stucked and will be for some time. Beijing needs to realise their big mistakes. Less we see another Great Famine happen. Please remember whay happened with Mao's Great Leap Forward disaster.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/208726235496648","repostId":1164002773,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":14,"commentSize":2,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}