SHANGHAI: China stocks edged up on Monday while Hong Kong shares closed flat, with traders turning cautious as they await policy signals from the annual parliamentary meeting due this week.
China’s blue-chip CSI300 Index added 0.1%, and the Shanghai Composite Index gained 0.4% at market close.
Hong Kong’s share benchmark Hang Seng ended almost unchanged, and the Hang Seng China Enterprises Index slipped 0.3%.
China’s parliament is expected to unveil moderate stimulus plans to stabilise growth at an annual meeting beginning on Tuesday, but may disappoint those calling for a detailed roadmap of bold policies to fix the country’s deep structural imbalances.
Premier Li Qiang is expected to set a growth target of around 5% for 2024.
Other Asian share markets firmed as the Nikkei reached another new high, and investors braced for a week packed with central bank events and major data that will refine market wagers for when interest rates will start falling.
Real estate developers slumped 3.6% to underperform other sectors, with property giant China Vanke Co down 4.7%.
Investors sold China Vanke stock and bonds on Monday, picking up from where they left off last week as concern over the developer’s liquidity trumped fundraising plans and assurance from a business partner.
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