March 10, 2014 / 8:06 AM / 4 years ago

Hong Kong shares in biggest loss in 5 weeks after anemic China data

HONG KONG, March 10 (Reuters) - Hong Kong shares suffered their biggest one-day loss in five weeks on Monday, after a slew of tepid China economic data over the weekend reignited fears of a bigger slowdown in the world’s second-largest economy.

The Hang Seng Index finished down 1.8 percent at 22,264.9 points, while the China Enterprises Index of the leading offshore Chinese listings in Hong Kong also sank 1.8 percent. This was their biggest one-day loss since Feb. 4.

China’s consumer prices rose 2 percent in February from a year earlier, their slowest rate in 13 months as pork prices fell by their most in over a year, a sign that slowing growth rather than rising prices poses a risk.

Exports in February fell 18.1 percent from a year earlier, following a 10.6 percent rise in January, the General Administration of Customs said on Saturday. Imports rose 10.1 percent, yielding a trade deficit of $23 billion for the month versus a surplus of $32 billion in January.

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