From the South China Morning Post, December 16:
Caution prevails as investors weigh China’s growth prospects after key economic data showed a deceleration across the board
Concerns about China’s deteriorating growth prospects dragged Hong Kong stocks to their lowest level in three months, while investors refrained from fresh bets before a US jobs report that could sway the Federal Reserve’s interest-rate policy.
The Hang Seng Index dropped 1.9 per cent to 25,139.16 at the noon break, heading for a level not seen since September 4. The decline was broad-based, with all but five stocks on the 89-member benchmark falling. The Hang Seng Tech Index slumped 2.4 per cent.
On the mainland, the CSI 300 Index slid 1.4 per cent and the Shanghai Composite Index retreated 1.3 per cent.
Alibaba Group Holding slumped 3.6 per cent to HK$143.30 and Tencent Holdings lost 1.4 per cent to HK$594.50. Aluminium maker China Hongqiao Group sank 5.8 per cent to HK$30.08 and gold producer Zijin Mining Group shed 4.6 per cent to HK$32.88. Chinese chipmaker Semiconductor Manufacturing International Corp declined 3.6 per cent to HK$62.35....
....MUCH MORE
These are not trivial declines and will soon be approaching a reverse wealth effect. Despite being up 14% over the last year the CSI300 index is down around 4% over the last month, and flat since late August. Throw in some recency bias and retail investors could slowly begin affecting the wider economy with their caution. Here's the last month of the big index's price action, from TradingView:
