AGL 6.72 Increased By ▲ 0.05 (0.75%)
ANL 9.75 Decreased By ▼ -0.10 (-1.02%)
AVN 75.50 Decreased By ▼ -0.50 (-0.66%)
BOP 5.44 Increased By ▲ 0.07 (1.3%)
CNERGY 4.95 Decreased By ▼ -0.04 (-0.8%)
EFERT 78.05 Increased By ▲ 0.02 (0.03%)
EPCL 55.40 Decreased By ▼ -0.30 (-0.54%)
FCCL 15.30 Decreased By ▼ -0.08 (-0.52%)
FFL 6.48 Decreased By ▼ -0.06 (-0.92%)
FLYNG 7.15 Decreased By ▼ -0.13 (-1.79%)
GGGL 10.55 No Change ▼ 0.00 (0%)
GGL 16.55 Decreased By ▼ -0.20 (-1.19%)
GTECH 8.42 Decreased By ▼ -0.08 (-0.94%)
HUMNL 6.41 Decreased By ▼ -0.09 (-1.38%)
KEL 2.99 Decreased By ▼ -0.06 (-1.97%)
LOTCHEM 28.85 Decreased By ▼ -0.16 (-0.55%)
MLCF 28.30 Decreased By ▼ -0.10 (-0.35%)
OGDC 75.50 Decreased By ▼ -0.55 (-0.72%)
PAEL 15.54 Decreased By ▼ -0.14 (-0.89%)
PIBTL 5.36 Increased By ▲ 0.06 (1.13%)
PRL 17.32 Decreased By ▼ -0.30 (-1.7%)
SILK 1.05 Decreased By ▼ -0.01 (-0.94%)
TELE 10.50 Decreased By ▼ -0.20 (-1.87%)
TPL 8.00 Decreased By ▼ -0.26 (-3.15%)
TPLP 20.80 Decreased By ▼ -0.57 (-2.67%)
TREET 23.00 Decreased By ▼ -0.61 (-2.58%)
TRG 122.70 Decreased By ▼ -2.55 (-2.04%)
UNITY 22.58 Decreased By ▼ -0.02 (-0.09%)
WAVES 11.30 Decreased By ▼ -0.27 (-2.33%)
WTL 1.14 Decreased By ▼ -0.01 (-0.87%)
BR100 4,104 Decreased By -51.4 (-1.24%)
BR30 15,468 Decreased By -141.6 (-0.91%)
KSE100 41,014 Decreased By -421.3 (-1.02%)
KSE30 15,312 Decreased By -192 (-1.24%)
Follow us

SHANGHAI: China shares fell on Tuesday while Hong Kong’s benchmark index also slumped, as stricter COVID-19 measures in the country’s capital reignited worries over slowing growth despite Beijing’s pledges of further economic support.

China stocks rise on higher-than-expected borrowing rate cut

** At the close of trade, Hong Kong’s Hang Seng index was down 357.96 points or 1.75% at 20,112.10. The Hang Seng China Enterprises index fell 1.98% to 6,883.14.

** The Shanghai Composite index ended 2.41% lower at 3,070.93, posting its biggest drop since April 25.

** The blue-chip CSI300 index was down 2.34%, its biggest drop since May 6, with its financial sector sub-index lower by 1.49%, the consumer staples sector down 1.45%, the real estate index down 0.27% and the healthcare sub-index down 3.7%.

** Tech firms, which have led a market rebound since late April, fell sharply. The CSI Info Tech index slipped 4.23% and Shanghai’s tech-focused STAR50 index dropped 4.73%.

** The smaller Shenzhen index ended 3.54% lower and the start-up board ChiNext Composite index fell 3.82%.

** Automotive shares fell less than the broader market, with a sub-index tracking the sector falling 1.1%, after China said it would reduce some passenger car purchase taxes by 60 billion yuan.

** The news helped to lift Geely Automobile Holdings Ltd , which jumped 3.52% and was the top gainer on the Hang Seng.

** The tax reduction is among a number of steps China’s cabinet has pledged to support an economy wracked by widespread COVID-19 outbreaks that are hobbling an already-slowing economy.

** Chinese Vice Premier Sun Chunlan called for more thorough measures to cut virus transmission and adhere to the nation’s zero-COVID policy during an inspection tour in Beijing.

** Daily COVID-19 numbers in China remain closely watched by investors and Beijing on Monday reported 99 new infections for the previous day, the largest daily tally so far during a month-old outbreak.

** Foreign investors were net sellers of A-shares on Tuesday, with Refinitiv data showing outflows of more than 6.6 billion yuan ($988.85 million) through the Stock Connect programme.

** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 1.25%, while Japan’s Nikkei index closed down 0.94%.

** The yuan was quoted at 6.6686 per US dollar at 0814 GMT, 0.3% weaker than the previous close of 6.6488.

Comments

Comments are closed.