AVN 66.49 Increased By ▲ 1.29 (1.98%)
BAFL 30.79 Increased By ▲ 0.05 (0.16%)
BOP 4.87 Increased By ▲ 0.07 (1.46%)
CNERGY 3.78 Increased By ▲ 0.07 (1.89%)
DFML 14.28 Increased By ▲ 0.07 (0.49%)
DGKC 40.90 Decreased By ▼ -0.15 (-0.37%)
EPCL 46.80 Increased By ▲ 0.35 (0.75%)
FCCL 11.34 Decreased By ▼ -0.06 (-0.53%)
FFL 5.05 No Change ▼ 0.00 (0%)
FLYNG 5.80 No Change ▼ 0.00 (0%)
GGL 10.47 Increased By ▲ 0.14 (1.36%)
HUBC 66.70 Decreased By ▼ -0.17 (-0.25%)
HUMNL 5.67 Decreased By ▼ -0.04 (-0.7%)
KAPCO 28.00 Increased By ▲ 0.24 (0.86%)
KEL 2.22 Increased By ▲ 0.02 (0.91%)
LOTCHEM 24.95 Increased By ▲ 0.05 (0.2%)
MLCF 21.30 Decreased By ▼ -0.14 (-0.65%)
NETSOL 85.50 Increased By ▲ 1.90 (2.27%)
OGDC 92.38 Increased By ▲ 6.48 (7.54%)
PAEL 10.99 Decreased By ▼ -0.02 (-0.18%)
PIBTL 4.21 Decreased By ▼ -0.01 (-0.24%)
PPL 79.80 Increased By ▲ 5.32 (7.14%)
PRL 13.51 Increased By ▲ 0.08 (0.6%)
SILK 0.92 No Change ▼ 0.00 (0%)
SNGP 42.27 Increased By ▲ 1.87 (4.63%)
TELE 5.96 Increased By ▲ 0.10 (1.71%)
TPLP 15.71 Increased By ▲ 0.31 (2.01%)
TRG 114.00 Increased By ▲ 2.59 (2.32%)
UNITY 13.80 Increased By ▲ 0.05 (0.36%)
WTL 1.14 No Change ▼ 0.00 (0%)
BR100 4,074 Increased By 36.3 (0.9%)
BR30 14,781 Increased By 369.7 (2.57%)
KSE100 40,757 Increased By 285.9 (0.71%)
KSE30 15,305 Increased By 142.5 (0.94%)
Follow us

SHANGHAI: China and Hong Kong stocks closed roughly flat on Tuesday as concerns over the worsening COVID-19 situation offset optimism from recovering services activities in the country.

The blue-chip CSI300 index ended down 0.1% at 4,489.54, while the Shanghai Composite Index ended flat, at 3,404.03 points.

Sentiment in China was curbed by signs of a flare-up in COVID-19 infections, despite data showing China’s services activity snapped three months of decline in June and grew at the fastest rate in almost a year.

The total number of domestically transmitted cases jumped to 173 from 27 on a seven-day moving average basis, and the number of cities under lockdown or partial lockdowns doubled, Nomura said in a note.

“Over the past week, the COVID-19 situation has clearly worsened,” wrote Ting Lu, Nomura’s chief China economist. “Another wave of Omicron could prompt a return to a downswing phase, even though the timing of such an occurrence is uncertain.” Although the Caixin services PMI bounced back to the expansionary zone, “the highly uncertain COVID-19 development still poses persistent pressures on the future recovery of the service sector, which calls for sustained and targeted policy support,” HSBC wrote on Tuesday.

Tourism and food & beverage shares fell in China, but steel, resources and infrastructure stocks rose.

Comments

Comments are closed.

China, HK stocks end little changed

Intra-day update: rupee improves, up 1.13% against US dollar

Talks extended for two days: IMF demands govt withdraw power subsidy

Former military ruler Musharraf’s body to be flown to Pakistan

All set for inking pact with Denmark under DETI

At least 245 dead in Syria after Turkey earthquake

FBR to check benami transactions of civil servants

TTP celebrates death

COAS reaches UK on five-day visit

China delivers two Hualong-1 nuclear power units

KSA warns sanctions, under-investment may cause energy shortages