Sumary of China stocks fall on weak data, resurgence in virus cases:
- Article content SHANGHAI — China stocks closed lower on Wednesday as weak factory and retail activity data weighed on sentiment, while the fresh COVID-19 outbreaks also raised concerns over China’s economic recovery.
- The blue-chip CSI300 index fell 1.0% to 4,867.32, while the Shanghai Composite Index lost 0.2% to 3,656.22. ** China’s factory and retail sectors faltered in August, with output and sales growth hitting one-year lows as fresh coronavirus outbreaks and supply disruptions threatened the country’s economic recovery.
- Article content ** “We expect Beijing to use more general easing measures to offset its tightening stance on the property sector and carbon emissions,” Nomura analysts said in a note.
- ** The consumer staples sub-index and the tourism sub-index shed around 2%, as China fights the latest coronavirus outbreak in the southeast Fujian province, and some cities have issued travel warnings ahead of major holidays.