Asia Pacific Stocks Fall As Chinas Retail Sales Data For August Comes In Far Lower Than Expected

SINGAPORE — Shares in Asia-Pacific were largely lower on Wednesday, as investors reacted to the release of Chinese economic data.

Hong Kong's Hang Seng index dropped 1.84% to close at 25,033.21 — falling more than 1% for the third straight session.

Casino stocks listed in the city plunged amid fears over tighter regulations as Macao kicked off a public gaming consultation. Shares of Wynn Macau plummeted 29%, while Sands China plunged more than 32%. Galaxy Entertainment Group dropped around 20%.

Mainland Chinese stocks closed lower, with the Shanghai composite dipping 0.17% to 3,656.22 while the Shenzhen component shed 0.614% to 14,536.31.

Data released Wednesday showed China's retail sales growing at a much lower pace than expected in August. The retail sales print for the month grew 2.5%, against a 7% growth forecast by analysts polled by Reuters.

Industrial production growth also came in below expectations, rising 5.3% in August against predictions of 5.8% growth.

Source : https://www.cnbc.com/2021/09/15/asia-markets-chinas-retail-sales-industrial-production-data-ahead.html

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