SINGAPORE: China and Hong Kong stocks made a steady open of trade on Wednesday, as the promise of government help for the economy supported the major indexes to settle in at higher levels.
China’s blue-chip CSI300 Index inched down 0.3% to 3,944 and the Hong Kong benchmark Hang Seng climbed about 0.1% at 20,515 in early trade.
China and Hong Kong stocks edge down, stimulus effectiveness in focus
In both cases that was well below recent peaks above 4,450 and 23,000, respectively, but also a sharp break higher than levels plumbed in a years-long downtrend while the economy has struggled with a property crunch and weak consumer confidence.
Shares of China Resources Beverage traded about 12% above its offer price as the stock began trading on the Hong Kong Exchange after raising $650 million in an initial public offering.
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