China Stocks Lower on Industrial Output

Chinese stocks fell, with a gauge of shares traded in Hong Kong poised for a five-week low, after a report showed the nation’s industrial output grew at the weakest pace since the global financial crisis.

China Petroleum & Chemical Corp. (386) sank 5.4 percent in Hong Kong after the refiner known as Sinopec agreed to sell a 107 billion yuan ($17.5 billion) stake in its retail unit. Ping An Insurance (Group) Co. lost the most in a month in Shanghai. Automaker SAIC Motor Corp. and household-appliances maker Midea Group Co. fell at least 1.8 percent to lead declines for consumer companies reliant on economic growth.

The Hang Seng China Enterprises Index, or H-shares gauge, sank 1.6 percent as of 1:06 p.m. local time, heading for the lowest close since Aug. 8. Reports on Chinese factory production, retail sales and asset investment over the weekend all missed estimates, underscoring the risks of a deepening economic slowdown led by a slumping property market.

Bloomberg

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