Chinese stocks knocked down data on the volume of loans provided, Hong Kong declined due to technology stocks. Shares in countries around the Persian Gulf, led by the stock exchange in Abu Dhabi, also lost ground. It wasn’t until China that a bad mood came from China.
The Shanghai Stock Exchange weakened 0.3 percent at the start of the new trading week, while the main CSI300 index lost 0.4 percent. The shares fell due to unfulfilled expectations about the volume of loans provided to the banking sector. It increased in August compared to July, but not as analysts expected. China’s post-Pididom economic recovery appears to be slowly weakening.
The stock slump in Hong Kong was even more massive. The Hang Seng Index lost 1.5 percent, while the segment of Chinese companies even lost 1.6 percent. The biggest drop was recorded by technological titles led by Alibaba, Tencent or Meituan. Their decrease ranged from d2.5 to 4.5 percent.
Stock exchanges around the Persian Gulf were also in a bad Chinese mood. Shares lost the most in Abu Dhabi, where the composite index lost 1.2 percent. Dubai weakened by 0.6 percent. The banking sector in particular fell.
