September 15, 2017 / 8:20 AM / 10 months ago

Hong Kong shares ignore N.Korea missile, resource stocks off on weak China data

Sept 15 (Reuters) - Hong Kong stocks barely moved on Friday, as investors shrugged off another missile firing by North Korea, though China’s weak August investment data pulled down raw material shares.

The Hang Seng index rose 0.1 percent, to 27,807.59 points, while the China Enterprises Index lost 0.3 percent, to 11,067.55 points.

For the week, the HSI rose 0.5 percent while the HSCE fell 0.7 percent.

After brief jitters in morning trading on news of the North Korean missile that passed over Japan, investors chose to shrug off geopolitical tensions.

But there was renewed fear of a slowdown in China, after data published on Thursday showed the country’s fixed-asset investment grew at the slowest pace in nearly 18 years in August, while factory output and retail sales also expanded less than anticipated.

An index tracking raw material producers slumped over 2 percent.

But a gauge tracking Chinese property developers surged over 4 percent, bolstered by data showing growth in property investment accelerated to 7.8 percent in August from 4.8 percent in July. (Reporting by Samuel Shen and John Ruwitch; Editing by Richard Borsuk)

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