China and Hong Kong stocks slip on cash flow concerns
Stocks in China and Hong Kong took a hit on Friday, with investors feeling nervous about tighter cash flow and upcoming earnings.
The CSI 300 slipped 0.1%, the Shanghai Composite dropped 0.2%, and Hong Kong's Hang Seng Index fell 0.9%.
Tech stocks were even shakier, as the Hang Seng Tech Index lost 1.8%.
China real estate and healthcare slide
Real estate and healthcare shares led the slide in China, while rare earths and communications managed to hold up.
Investors also moved money ahead of a big robotics IPO in Shanghai, making things even tighter.
In Hong Kong, property developers felt the heat: CK Asset Holdings sank over 7% after skipping a special dividend despite solid earnings.
Plus, China's expanding cross-border tax collection efforts raised concerns about tighter controls on offshore investments.
Weak domestic demand curbs investor appetite
Weak demand at home and ongoing trouble in the property sector kept investors on edge, making them less willing to take risks, and that's why stocks were lower by the lunch break.