HONG KONG: Hong Kong stocks opened lower on Tuesday while China shares were steady after data showed weak loan growth in October.

Hong Kong’s benchmark Hang Seng was down 0.5% at the market open.

China’s blue-chip CSI300 Index climbed 0.8% while the Shanghai Composite Index rose 0.3%.

Chinese banks extended 500 billion yuan ($69.5 billion) in new loans last month, falling sharply from September and trailing behind analysts’ expectations, according to data released after the close of market hours on Monday.

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The weak outcome came on top of data showing the slowest consumer prices growth in four months in October and a deepening producer price deflation.

Sentiment has also remained largely downbeat after Beijing’s latest stimulus package failed to deliver the direct spending aimed at consumers that investors have been expecting.