Hong Kong Stocks Dip Amid Weak Loan Growth Data from China

Hong Kong stocks opened lower following weak loan growth data from China, with the Hang Seng down 0.5%. Despite a rise in China's CSI300 and Shanghai Composite indexes, new loans fell to 500 billion yuan in October, missing expectations and reflecting broader economic struggles.

On Tuesday, Hong Kong stocks saw a decline as China reported weaker-than-expected loan growth for October. The Hang Seng Index opened down by 0.5%, signaling investor apprehensions.

Conversely, China's CSI300 Index experienced a rise of 0.8%, while the Shanghai Composite Index inched up 0.3%. The data, released post-market hours on Monday, revealed that Chinese banks issued 500 billion yuan ($69.5 billion) in new loans, a considerable drop from September's figures and below analyst projections.

The economic mood remains cautious due to Beijing's recent stimulus package, which has not delivered the consumer-focused spending surge investors hoped for, further compounded by a slowdown in consumer prices growth and deepening producer price deflation.

(With inputs from agencies.)