SHANGHAI, Nov 15 (Reuters) - China stocks fell on Monday after data showed property investment and sales growth continued to slow, weighing on the economic outlook. Trading on China’s Beijing Stock Exchange started, with new shares surging as much as six-fold. The CSI300 index fell 0.4%, to 4,870.47 points at the end of the morning session, while the Shanghai Composite Index lost 0.4%, to 3,526.71 points. The Hang Seng index dropped 0.1%, to 25,293.82 points. The Hong Kong China Enterprises Index lost 0.7%, to 9,047.59. ** China’s industrial output and retail sales grew more quickly than expected in October, despite fresh curbs to control COVID-19 outbreaks and supply shortages, but the slowing property sector weighed on the economic outlook. ** Property investment and sales growth continued to slow over January-October compared with the first nine months, and new construction starts measured by floor area fell. ** The property sector slowdown is getting worse,” said Zhiwei Zhang, chief economist at Pinpoint Asset Management, adding this was “the key risk for the macro outlook in the next few quarters.” ** “Any appropriate relaxation in the funding restrictions for the developers will help support China growth momentum in Q4,” said Ken Cheung, Chief Asian FX Strategist at Mizuho Bank. ** Trading on China’s Beijing Stock Exchange kicked off on Monday, with shares of the 10 companies that recently conducted initial public offerings (IPOs) on the new bourse surging as much as six-fold and triggering circuit breakers. ** Real estate firms, new energy shares and Machinery stocks went down between 2.5% and 4%. ** The healthcare sub-index and the media sub-index gained 1.7% and 3.7%, respectively. ** Securities firms shed 0.6%, but Industrial Securities said in a note that setting up the Beijing bourse would bring brokers more opportunities, especially for the investment banking business. ** In Hong Kong market, Country Garden Services Holdings slumped 5.6%, the biggest percentage decliner on the Hang Seng Index, and the Hang Seng Mainland Properties Index lost 3.6%. ** The Hang Seng Tech Index added 0.5%, but shares in the sector were mixed. Alibaba Group and Meituan dropped 1.1% and 0.4%, while Tencent Holdings gained 1.8%. (Reporting by Shanghai Newsroom; editing by Uttaresh.V)
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