SHANGHAI: Hong Kong stocks ended roughly flat on Wednesday as a recent recovery ran out of steam, with some investors worried that Beijing’s stimulus may not be adequate to revive the coronavirus-battered economy.
Both the benchmark Hang Seng Index and the Hang Seng China Enterprise Index edged up 0.2%.
Chinese Vice-Premier Liu He soothed tech sector’s nerves on Tuesday, saying the government supported the development of the sector and public listings for technology companies.
The Hang Seng Tech Index, which had jumped roughly 14% over the past week in expectation of the meeting, slid 0.3% as some investors were disappointed with the lack of detailed support measures.
Hong Kong-listed property shares rose 0.8% on news that more Chinese banks have reduced mortgage rates for first-time home buyers, but some cautioned the sector remains in trouble.
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