Global Market: China, Hong Kong stocks fall as CATL slump, consumer worries weigh

What happened: China and Hong Kong stocks fell, with CATL shares plunging after slower third-quarter profit growth and consumer spending worries weighing on the market. Key numbers: CSI300 down 0.7%, Shanghai Composite down 0.3%, Hang Seng down 0.4%, CATL down 10% in mainland and Hong Kong trading, Pop Mart down 4% by midday. Why it matters: Investors took bearish positions in consumer stocks ahead of third-quarter earnings, and market participants believe Chinese policymakers may have limited incentive for fresh stimulus as exports sustain growth.

China and Hong Kong stocks fell, with CATL shares plunging after slower third-quarter profit growth and consumer spending worries weighing on the market.

Investors took bearish positions in consumer stocks ahead of third-quarter earnings, and market participants believe Chinese policymakers may have limited incentive for fresh stimulus as exports sustain growth.