China shares slump

Chinese shares slumped on Friday, with investor worries about the state of domestic economy rising on fresh data that showed weakening consumer sentiment and slowing industrial growth amid trade tensions with the United States. At the close, the Shanghai Composite index was down 1.5 percent at 2,593.74.
The blue-chip CSI300 index was down 1.7 percent, with its financial sector sub-index lower by 1.69 percent, the consumer staples sector down 1.39 percent, the real estate index down 2.02 percent and the healthcare sub-index lower by 2.75 percent. China's November retail sales grew at their weakest pace since 2003 and industrial output rose the least in nearly three years as domestic demand softened further.
China is still on track to hit its 2018 GDP growth target of around 6.5 percent, but the economy faces more external uncertainties next year, a spokesman of China's statistics bureau said. The smaller Shenzhen index ended down 2.46 percent and the start-up board ChiNext Composite index was weaker by 2.821 percent.
Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.3 percent, while Japan's Nikkei index closed down 2.02 percent. At 07:10 GMT, the yuan was quoted at 6.892 per US dollar, 0.12 percent weaker than the previous close of 6.8835. The largest percentage gainers on the main Shanghai Composite index were Zhejiang Tuna Environmental Science & Technology Co Ltd, up 10.03 percent, followed by Poten Environment Group Co Ltd, gaining 10.02 percent, and Fujian Raynen Technology Co Ltd, up by 10.02 percent.
The largest percentage losers on the Shanghai index were Fujian Kuncai Material Technology Co Ltd, down 9.34 percent, followed by Ecovacs Robotics Co Ltd, losing 9.28 percent, and Huayi Electric Co Ltd, down by 9.25 percent. So far this year, the Shanghai stock index is down 21.6 percent, the CSI300 has fallen 21.5 percent, while China's H-share index listed in Hong Kong is down 11.4 percent. Shanghai stocks have risen 0.21 percent this month.
About 14.59 billion shares were traded on the Shanghai exchange, roughly 85.8 percent of the market's 30-day moving average of 17.00 billion shares a day. The volume in the previous trading session was 15.07 billion.