Chinese Shares Fall on Weak Economic Data; Aerospace CH UAV Jumps 5%

MT Newswires Live
Dec 15

Chinese stocks fell on Monday as investors avoided riskier assets following the release of weak economic data.

The Shanghai Composite Index, the main gauge of Chinese stocks, declined 0.6% to 3,867.92. The Shenzhen Component Index dropped 1.1% to 13,112.09.

Chinese total retail sales growth dropped 1.3% year over year to 4.390 trillion yuan. The growth rate eased from 2.9% in October and missed the forecast of 2.8% by analysts polled by Reuters.

Factory price growth in the country slowed to 4.8% in November from 4.9% in October. The growth figure missed a 5% estimate by analysts polled by Reuters.

China's fixed-asset investment declined 2.6% year over year to 44.4 trillion yuan in the January-November period. This marked the third straight month of decline and the steepest since the January-September period.

New home prices in China's first-tier cities fell 0.4% month-on-month in November.

In company news, Aerospace CH UAV (SHE:002389) completed the maiden flight of its Rainbow-7 unmanned aerial vehicle. Shares of the aerial vehicle company jumped 5% Monday.

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