Despite stronger-than-expected Chinese manufacturing data, Hong Kong stocks followed the overnight selloff on Wall Street and closed solidly lower on Friday, ending their eight-session string of gains.
The Nikkei 225 in Tokyo dumped 97.66 points, or 0.6%, to 15,523.11.
The Hang Seng Index in Hong Kong plummeted 224.42 points, or 0.9%, to 24,532.43
In Hong Kong markets, property stocks were the main drag. Cheung Kong (Holdings), owned by Asia’s richest man Li Ka-shing, tumbled 4.7%, with investors setting side a 59% year-over-year jump in the company’s net profit for the first half.
China Overseas Land & Investment lost 2.3%, also failing to get enough a boost from a 18% increase in its first-half earnings.
CHINA
The Shanghai CSI 300 index dipped 20.85 points, or 0.9%, to 2,329.40
China’s manufacturing sector continued to expand in July, with the official Purchase Managers Index hitting a 27-month high, data showed on Friday. Separately, the HSBC’s China manufacturing PMI rose to an 18-month high of 51.7 for last month.
In other markets;
In Singapore, the Straits Times STI slipped 29.64 points, or 0.9%, to 3,344.42
In Korea, the Kospi index fell 49.34 points, or 0.5%, to 2,073.10
The Taiex Index in Taiwan went south 49.34 points, or 0.5%, to 9,266.51
In New Zealand, the NZX 50 lost 58.06 points, or 1.1%, to 5,109.93
Australia’s S&P/ASX 200 backtracked 76.54 points, or 1.4%, to 5,556.37
