Knowledge launched Monday highlighted weaknesses in China’s faltering financial system, dragging down the American depositary receipts of among the nation’s best-known corporations earlier than the opening bell.
The iShares MSCI China exchange-traded fund fell 1.1% in early buying and selling. U.S. shares of on-line retailer Alibaba fell 1.6%, whereas rival JD.com fell 0.7% and search engine supplier Baidu slipped 1%.
The losses got here after information confirmed that retail sales growth had slowed sharply in November, an indication that the world’s second largest financial system is in issue. Beijing has carried out stimulus measures in latest months, however it is going to possible have to up the ante to revive stagnant progress.
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