Hong Kong shares fell to their lowest level in a month on Wednesday, while Chinese shares also closed lower, as food delivery giant Meituan gave a cautious outlook for the fourth quarter, which added to recovery concerns of Chinese consumer spending.
The blue-chip CSI 300 index fell nearly 1%, while the Shanghai Composite index lost 0.6%.
Hong Kong’s Hang Seng Index fell 2.1% and the Hang Seng China Enterprises Index lost 2.3%.
Shares of index heavyweight Hang Seng Meituan fell 12% after the company forecast that revenue growth from its core food delivery business will slow in the fourth quarter from the previous quarter, citing lingering caution on the part of consumers and the warmer weather for the winter season, which influenced orders.
Meituan shares fell to a 3-1/2-year low on Wednesday, despite the company promising a $1 billion buyback.
. In TOKYO the Nikkei index fell by 0.26%, to 33,321.22 points.
. In HONG KONG the HANG SENG index fell by 2.08% to 16,993 points.
. IN SHANGHAI the SSEC index lost 0.56%, to 3,021 points.
. The CSI300 index, which brings together the major companies listed in SHANGHAI and SHENZHEN, fell by 0.86% to 3,488 points.
. In SEOUL the KOSPI index fell by 0.08% to 2,519 points.
. In TAIWAN the TAIEX index recorded an increase of 0.17%, to 17,370 points.
. IN SINGAPORE the STRAITS TIMES index rose by 0.61%, to 3,084 points.
. In SYDNEY the S&P/ASX 200 index advanced by 0.29%, to 7,035 points.
Source: Terra

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