Chinese Stocks Tumble After Disastrous Industrial Production Data – CCN.com, Crypto Coins News
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Stocks in mainland China and Hong Kong tumbled on Monday after Beijing reported a sharper than expected slowdown in industrial production, signs that the ongoing trade war with Washington was ravaging domestic producers. Chinese Stocks Decline
Mainland China’s Shanghai Shenzhen CSI 300 Index declined by as much as 0.5% at the start of the new trading week. The mainland benchmark was last down 0.1% at 3, 72.
Hong Kong’s Hang Seng Index fell 1.1% to 27, 0 48. 58.
The S & P / ASX 200, Australia’s major stock index, pared losses to trade at 6, 666. 40 After being down as much as 0.3%.
In Japan, the Tokyo Stock Exchange was closed Monday for a national holiday.
Chinese Industrial Production Resumes Slide
Industrial production, one of the broadest measures of factory output, rose far less than expected inChinalast month, extending a multi-year slowdown in the nation’s manufacturing sector.
August output rose just 4.4% compared with a year ago, the National Bureau of StatisticsreportedMonday. That was far less than the 5.2% increase expected and the slowest growth rate in over 17 Years.
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