Hong Kong Stocks fall on fears of weak GDP

The Hong Kong stock market closed down on Friday, 11 November 2016, shrugging off global lead, on fears of weak GDP after reports city economic growth likely to slow in the third quarter from the second, with weak exports, sluggish retail sales and falling tourist arrivals. The economy was expected to grow 0.3% for the third quarter from the second, according to the median estimate of economists in a poll. From a year earlier, growth was forecast at 1.6%. Gross domestic product grew a seasonally adjusted 1.6% in the second quarter from the first, and 1.7% from a year earlier, the Special Administrative Region (SAR) government said in August.

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