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coronavirus
Coronavirus
VERY HIGH
Source: covid.gov.pk
Pakistan Deaths
29,019
724hr
Pakistan Cases
1,328,487
4,34024hr
Sindh
502,500
Punjab
453,392
Balochistan
33,705
Islamabad
111,376
KPK
182,311

SHANGHAI: Shanghai stocks were flat on Tuesday as a new lending tool failed to excite investors, while lingering worries about the real estate sector's liquidity woes weighed on property stocks.

The Shanghai Composite Index was unchanged at 3,497.90, while the CSI300 index fell 0.3% to 4,833.69 by the end of the morning session.

The Hang Seng index dropped 0.1% to 24,745.92. The Hong Kong China Enterprises Index lost 0.1% to 8,788.00.

** China's central bank said on Monday it will provide financial institutions with low-cost loans to help firms cut carbon emissions.

** "The new lending tool does not have strong easing implications as it appears at first glance," said Zhaopeng Xing, a senior China strategist at ANZ.

** "The PBoC (China's central bank) will put its policy rates on hold in the near term," said Xing in a note. "The PBoC will take some time to reassess demand-supply dynamics to determine if the current slowdown is due to supply-side constraints or other factors and decide next steps."

** Food & beverage and energy stocks lost 1% each.

** Real estate firms shed 0.3% amid intensifying worries over the liquidity crisis in the property sector.

** A think-tank of China's state council held a meeting with real estate developers and banks on Monday, with developers urging state companies to help private firms improve liquidity. While the think-tank makes policy proposals, it is not a decision-making body.

** In Hong Kong, financials and property firms went down about 0.7% each, weighing on the Hang Seng Index.

** Healthcare stocks rebounded 4% after vaccine-related firms dragged down the index in the previous session.

** Healthcare firm Wuxi Biologics jumped 8.4%, the biggest percentage gainer on the Hang Seng Index.

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