Hong Kong Market falls on China slowdown concerns

Hong Kong stock market finished lower on Thursday, 30 September 2021, as investors opted to book profit made in previous three sessions, on following the mixed cues from Wall Street overnight and after reports indicated China's economy slowed further in September as manufacturing cooled from a power shortage crisis that slammed production.

At closing bell, the benchmark Hang Seng Index fell 0.36%, or 87.86 points, to 24,575.64. The Hang Seng China Enterprises Index dropped 0.39%, or 34.06 points, to 8,726.38. Markets in Hong Kong will shut on Friday for a public holiday.

The official manufacturing Purchasing Manager's Index (PMI) was at 49.6 in September versus 50.1 in August, data from the National Bureau of Statistics (NBS) showed on Thursday, slipping into contraction for the first time since February 2020. The sudden contraction in factory activity will further weigh on an economy already hit by curbs on its property and tech sectors.

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