Published on 10/21/2026 at 01:19 am EDT
(Reuters) - China and Hong Kong stocks fell on Wednesday despite a broader recoveryin Asian shares, as weaker profit growth in index heavyweight CATL and growing worries over the health of the consumer sector weighed on sentiment.
** China's blue-chip CSI300 Index dropped 0.7% by the lunch break, while the Shanghai Composite Index lost 0.3%.
** Hong Kong benchmark Hang Seng was down 0.4%.
** Shares of CATL tumbled 10% in both Hong Kong and mainland markets after the top Chinese battery maker posted much slower profit growth in the third quarter, hit by fierce competition andslower China auto sales growth.
** Adding to risk aversion was the weak performance of toymaker Pop Mart, whose shares dropped 4% by midday as investors expect its third quarter earnings to disappoint.
** Market participants said investors are expressing their bearish view on China's weak domestic demand through trading consumer stocks ahead of third-quarter earnings.
** Liquor and new energy firms led the decline while big data and cloud operators outperformed.
** Investors believe policymakers are unlikely to roll out market stimulus measures soon given economic growth remains robust, thanks to exports.
** "Rather than seeking to boost near-term growth, the government's focus remains on technological advancement, industrial upgrading and greater self-sufficiency," Sophie Altermatt, an economist at Julius Baer, said in a note.
(Reporting by Summer Zhen; Editing by Ronojoy Mazumdar)
Sumber : Reuters
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