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China stocks fall on slow growth

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decline3 May 14, 2012 (Chinavestor) Fear of a slower economic growth in China hurt stocks in Asia on Monday. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 229.6 points or 1.2% while the Shanghai Composite Index (SHA:000001) slipped 14.3 points or 0.6% for the day. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 5.6% last week, the most such losses in 2012 amid European woes, gradually recovering US jobs market and now Chinese GDP growth figures.

The decline was universal among Chinese stocks listed in Hong Kong. All but three components of the 25 member Xinhua 25 China Index fell on Monday. Chinese shipping companies fell the hardest on European export outlook. CSCL (HKG:2866) and China Cosco (HKG:1919) fell the most among 42 components of the Hang Seng Index (INDEXHANGSENG:.HSI).

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