China Stocks Set for 10-Month Low as Economic Pessimism Persists

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Pedestrians walk over an elevated walkway in Shanghai as an electronic ticker displays stock moves in the Lujiazui Financial District on May 26. Photo: Bloomberg

(Bloomberg) — Chinese stocks extended their poor run on Thursday, putting a key gauge on course for its lowest close since November, as an exodus of foreign funds continued amid persistent concerns about the economy.

The MSCI China Index dropped as much as 1.5%, extending what’s set to be a third consecutive week of losses. The Hang Seng Index and a gauge of major Chinese firms listed in Hong Kong also fell more than 1%. The yuan weakened as much as 0.2% in both the onshore and offshore currency markets.