Posted 12/5/2023, 3:49:00 PM
Chinese Stocks Slump on Growth Worries While Data Offers Ray of Hope
- Chinese stocks declined amid worries over slowing economic growth
- Hong Kong's Hang Seng index fell 1.9% to over a year low; Shanghai Composite down 1.7%
- Concerns over declining Chinese growth have rattled global markets this year
- Non-official Caixin services PMI rose to 51.5 in November from 50.4 in October, beating expectations
- Moody's downgraded its outlook on China's government credit ratings to negative from stable