ANL 11.10 Increased By ▲ 0.57 (5.41%)
ASC 10.07 Increased By ▲ 0.46 (4.79%)
ASL 10.95 Increased By ▲ 0.41 (3.89%)
AVN 73.31 Increased By ▲ 4.31 (6.25%)
BOP 5.99 Increased By ▲ 0.08 (1.35%)
CNERGY 5.23 Decreased By ▼ -0.04 (-0.76%)
FFL 6.85 Increased By ▲ 0.30 (4.58%)
FNEL 6.20 Increased By ▲ 0.17 (2.82%)
GGGL 12.33 Increased By ▲ 0.93 (8.16%)
GGL 16.41 Increased By ▲ 1.21 (7.96%)
GTECH 9.81 Increased By ▲ 0.64 (6.98%)
HUMNL 6.62 Increased By ▲ 0.23 (3.6%)
KEL 2.59 Increased By ▲ 0.04 (1.57%)
KOSM 3.06 Increased By ▲ 0.17 (5.88%)
MLCF 28.85 Increased By ▲ 0.92 (3.29%)
PACE 3.23 Increased By ▲ 0.19 (6.25%)
PIBTL 6.10 Increased By ▲ 0.08 (1.33%)
PRL 15.23 Increased By ▲ 0.08 (0.53%)
PTC 7.19 Increased By ▲ 0.32 (4.66%)
SILK 1.10 Increased By ▲ 0.07 (6.8%)
SNGP 26.20 Increased By ▲ 0.07 (0.27%)
TELE 11.06 Increased By ▲ 0.88 (8.64%)
TPL 9.40 Increased By ▲ 0.52 (5.86%)
TPLP 16.30 Increased By ▲ 0.66 (4.22%)
TREET 30.16 Increased By ▲ 0.16 (0.53%)
TRG 76.77 Increased By ▲ 1.52 (2.02%)
UNITY 23.21 Increased By ▲ 1.51 (6.96%)
WAVES 13.25 Increased By ▲ 0.65 (5.16%)
WTL 1.54 Increased By ▲ 0.06 (4.05%)
YOUW 5.05 Increased By ▲ 0.24 (4.99%)
BR100 4,277 Increased By 51.3 (1.21%)
BR30 14,956 Increased By 482.5 (3.33%)
KSE100 43,027 Increased By 300.8 (0.7%)
KSE30 16,360 Increased By 114 (0.7%)

SHANGHAI: China stocks closed lower on Thursday, tracking a global slump after minutes from the U.S. Federal Reserve’s December meeting pointed to a faster-than-expected rise in interest rates, while the surge in COVID-19 infections also weighed on sentiment.

The blue-chip CSI300 index ended down 1% at 4,818.23, while the Shanghai Composite Index lost 0.3% to 3,586.08 points.

A “very tight” job market and unabated inflation might require the Federal Reserve to raise interest rates sooner than expected and begin reducing its overall asset holdings as a second brake on the economy, U.S. central bank policymakers said in their meeting last month.

The more hawkish-than-expected views of U.S. central bank officials pushed Treasury yields higher, potentially draining liquidity from emerging markets.

Refinitiv data showed outflows of more than 2.4 billion yuan through the Northbound legs of the Stock Connect programme, showing overseas investors were net sellers of A-shares on Thursday.

Activity in China’s services sector expanded at a faster pace in December amid higher demand and easing inflationary pressure, but continuing small-scale COVID-19 outbreaks weighed on the outlook, a private sector survey showed. More cities in China resorted to tough curbs as new coronavirus infections rose, which are likely to dampen the consumption recovery.

Comments

Comments are closed.