China stocks end lower on weak holiday tourism data

SHANGHAI: China and Hong Kong stocks closed down for a fourth straight session on Monday, as tourism data during last week’s three-day Dragon Boat Festival pointed to weak economic recovery.

China’s blue-chip CSI300 Index and the Shanghai Composite Index ended 1.4% and 1.5% lower, respectively.

Hong Kong benchmark Hang Seng Index fell 0.5% and the Hang Seng China Enterprises Index dropped 0.4%.

Oil was slightly higher on Monday and Asian shares were lower as an abortive weekend mutiny by Russian mercenaries raised questions about Russian stability and crude supply, but left investors hesitant to draw any further conclusions.

Tourism trips in China during the Dragon Boat Festival holiday climbed 32.3% from a year earlier, but the rebound is smaller than what was seen during the five-day May Day holiday.