China stocks slide to five-month low; Hong Kong drops

China Resources Beer Holdings

24/07/2024 10:03

(Updates to market close)
    By Summer Zhen
       HONG KONG, July 24 (Reuters) - Chinese stocks declined
on Wednesday, with the Shanghai Composite Index hitting its
lowest level in over five months, as investors turned to
risk-off mode amid weak economic data and U.S. election risks.
    The Shanghai Composite Index  .SSEC  slipped below the key
2,900 level briefly, but it was slightly above 2,900 points at
the close. 
    Hong Kong stocks also dipped, dragged down by electric
vehicle makers following disappointing second-quarter results
from Tesla  TSLA.O . NIO  9866.HK  and XPENG  9868.HK  fell 4.4%
and 5%, respectively.
    The Hang Seng Tech index  .HSTECH  dropped 1.5%. 

** At the close, the Shanghai Composite index  .SSEC  was down
0.46% at 2,901.95.
 
** The blue-chip CSI300 index  .CSI300  was down 0.63%, with its
financial sector sub-index  .CSI300FS   lower by 0.56%, the
consumer staples sector  .CSI000912  down 1.13%, the real estate
index  .CSI000952  down 2.88% and the healthcare sub-index
 .CSI300HC  down 0.89%.
 
** The smaller Shenzhen index  .SZSC  ended 1.32% lower and the
start-up board ChiNext Composite index  .CNT  was weaker by
1.229%.
    ** In Hong Kong, the Hang Seng index  .HIS   was down 158.31
points, or 0.91%, at 17,311.05. The Hang Seng China Enterprises
index  .HSCE  fell 0.85% to 6,142.32.
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  rose 1.4%, while the IT sector  .HSCIIT  dipped 1.47%,
the financial sector  .HSNF  ended 0.78% lower and the property
sector dipped 1.27%.
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.35%, while Japan's Nikkei index
 .N225  closed down 1.11%.
 

 (Reporting by Summer Zhen; Editing by Janane Venkatraman
)
 ((summer.zhen@thomsonreuters.com; 852-3462-7739;))