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The Hang Seng Index slipped 0.9 per cent to 26,833.92 as of 10.21am local time. The Hang Seng Tech Index dropped 1.7 per cent. On the mainland, the CSI 300 Index slid 0.7 per cent and the Shanghai Composite Index retreated 0.2 per cent.
E-commerce giant JD.com slumped 4.1 per cent to HK$119.30 after third-quarter profit fell 55 per cent from a year ago. Peer Alibaba Group Holding dropped 2.8 per cent to HK$157.30. Tencent Holdings shed 2.1 per cent to HK$642.50 even after its quarterly results beat estimates and Meituan lost 1.8 per cent to HK$100.30.
China’s industrial production climbed 4.9 per cent last month from a year earlier, the National Bureau of Statistics said on Friday. The median forecast in a Bloomberg survey was for an increase of 5.5 per cent.
Retail sales gained 2.9 per cent, slowing for the fifth straight month in the longest such decline since 2021. Fixed-asset investment shrank 1.7 per cent in the first 10 months of the year, a record for the period.
Also, the decline in China’s home prices deepened last month.
