SHANGHAI, Aug 11 (Reuters) -
Chinese stocks fell on Friday, as investors were disappointed by authorities' latest stimulus measures, amid fresh data showing that the post-pandemic recovery is continuing to lose steam.
** China's blue-chip CSI 300 Index dropped 1.4% by the lunch break, while the Shanghai Composite Index lost 1.2%.
** Hong Kong's Hang Seng Index fell 0.6%, and the Hang Seng China Enterprises Index declined 1.1%.
** Shanghai and Shenzhen stock exchanges said late Thursday they would study measures to lower investors' trading costs and improve liquidity to further stimulate the market.
** It comes as China's top leaders pledged last month to step up policy support for the economy amid a tortuous post-COVID recovery, but so far investors say the measures are not concrete enough.
** Other Asian stocks edged towards a weekly loss on Friday and the U.S. dollar was headed for a month of gains after U.S. inflation came in steady, without the hoped-for surprise on the downside.
** China's new yuan loans are expected to fall sharply in July from June after record lending in the first half, a Reuters
poll showed
, but could still exceed the year-ago amount as the central bank seeks to underpin the economy.
** Hong Kong-listed shares of Alibaba Group rose 2.4% after the Chinese e-commerce giant reported its strongest quarterly revenue growth in almost two years.
** The Hang Seng Tech Index, however, lost 1.9%.
** Shares of China's largest private property developer Country Garden
plunged
to a record low in the session, after it forecast a first-half loss of up to $7.6 billion and a media report said it was preparing for a debt restructuring. (Reporting by Shanghai Newsroom; Editing by Varun H K)