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Hong Kong, Shanghai stocks slip on China data

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(Globalpost/GlobalPost)

Shares in Hong Kong and Shanghai tumbled on Monday after data showed the rate of growth in the Chinese economy slowed in the first three months of the year.

The benchmark Hang Seng Index fell 1.43 percent, or 316.38 points, to end at 21,772.67 on turnover of HK$55.03 billion ($7.10 billion).

Chinese shares closed down 1.13 percent. The benchmark Shanghai Composite Index slid 1.13 percent, or 24.84 points, to 2,181.94 on turnover of 58.2 billion yuan ($9.4 billion), the lowest close since December 24.

dan/ia

http://www.globalpost.com/dispatch/news/afp/130415/hong-kong-shanghai-stocks-slip-china-data