Hong Kong shares fall after disappointing China trade data

Oct 13 Hong Kong shares fell on Thursday after China’s September trade data showed a sharp decline in exports, raising fresh concerns about the trajectory of the world’s second-biggest economy and its currency the yuan.

The Hang Seng index fell 1.6 percent, to 23,031.30, the biggest one-day loss since Sept. 30.

The China Enterprises Index lost 1.8 percent, to 9,496.85 points.

The disappointing China data fuelled a broader risk-off move around the region. Japanese shares were down 0.4 percent.

Some analysts said the soft data also raised concerns that China may pursue a weaker currency policy in the coming months, stoking deflationary pressures for the rest of the region at a time when corporate earnings’ growth has slowed.

from reuters.com

 

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