SHANGHAI: China's blue chips fell on Thursday as a survey showed services sector activity in February expanded at the slowest pace in six months, while real estate and energy firms helped Shanghai stocks eke out gains.
The CSI300 index fell 0.3% to 4,565.41 by the end of the morning session, while the Shanghai Composite Index gained 0.1% to 3,487.54.
The Hang Seng index climbed 0.5% to 22,453.50. The Hong Kong China Enterprises Index lost 0.2% to 7,890.62.
** The Caixin/Markit services Purchasing Managers' Index dropped to 50.2 in February, as the sprawling industry reels from the government's tough containment measures to stop the spread of local COVID-19 outbreaks.
** Consumer staples dropped 1.6%, with liquor makers down 2.9%.
** The CSI 300 Real Estate Index gained 2.5%, after the chairman of China's banking and insurance regulator said the trend of property bubbles in China had been reversed.
** Coal shares rose amid surging prices following Russia's invasion of Ukraine and an announcement by the Zhengzhou Commodity Exchange on Wednesday to raise thermal coal margin requirement.
** China's CSI SWS Coal Index and the CSI Energy Index went up 2.2% and 1.9%, respectively. Oil stocks rose, as well.
** Tourism stocks jumped roughly 4%, and transportation shares added 2.8%.
** US Federal Reserve Chairman Jerome Powell on Wednesday said rates would likely be raised by only 25 basis points this month, and the war in Ukraine had made the outlook "highly uncertain".
** Finance stocks and energy firms added 1.7% and 3.1% respectively, supporting the Hang Seng benchmark.
** The Hang Seng Tech Index lost 1.3%, with Meituan and Tencent Holdings down 3% and 1.4% respectively.
** Tencent said it would reduce transaction fees for small and medium-sized merchants using its WeChat payments system by 10%.
** Shares of cordless power equipment maker Techtronic Industries Co Ltd soared more than 10% to become the biggest percentage gainer in the Hang Seng Index.
Comments
Comments are closed.