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Hong Kong shares close slightly lower on growth, trade concerns
Hang Seng index down 0.11% at 17,915 points (Il Sole 24 Ore Radiocor) - Hong Kong, 18 Jun - Hong Kong shares closed slightly lower after yesterday's flat session, underperforming their Asian peers.
The city's stocks hovered near two-month lows hit last week, with the Hang Seng index remaining below the 18,000 mark.
Caution prevailed as investors assessed mixed economic data from China released yesterday that underscored the country's bumpy recovery.
The figures showed that China's retail sales rose 3.7% in May, topping forecasts of a 3% rise from a Reuters poll of economists, but industrial output and fixed-asset investment both came in lower than expected.
Trade tensions also weighed on investor sentiment as China ordered an anti-dumping probe into EU pork imports.
The move comes after the European Union last week slapped tariffs of up of 38% on Chinese EV makers.
Traders now awaited a string of Federal Reserve officials due to speak later in the day for fresh clues on the US central bank's rate path after last week's policy decision to keep rates on hold.
In the city's stock market dealings real estate shares again were among the biggest decliners, with the Hang Seng Mainland Properties Index dipping 1.85%.
Data showed yesterday that China's home prices fell at the fastest pace in a decade in May, underscoring continued strains in the country's property sector.
Technology shares closed slightly lower, with the Hang Seng Tech Index down 0.33%.
The Hang Seng index closed down 0.11% at 17,915 points.
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(RADIOCOR) 18-06-24 11:14:30 (0263) 5 NNNN