SHANGHAI: China and Hong Kong stocks were subdued on Thursday as investors awaited earnings and economic data, while geopolitical tensions dented sentiment.
China’s blue-chip CSI300 Index and the Shanghai Composite Index ended down 0.1 percent.
Meanwhile, Hong Kong’s Hang Seng benchmark slipped 0.4%, Hang Seng China Enterprises Index gained 0.4%, and the Hang Seng Tech Index jumped 1.2%.
Geopolitical concerns have heightened amid China and Russia vowing to deepen ties and US President Joe Biden pledging to “defend literally every inch of NATO”.
Hong Kong’s Financial Secretary Paul Chan on Wednesday unveiled policies aimed at reviving the COVID-hit economy.
“I believe that Hong Kong’s economy will visibly recover this year, and I remain positive,” Chan said.
Meanwhile, China’s Premier Li Keqiang said “China’s economy is stabilizing and steadily improving, but still facing challenges. China will implement measures to boost market expectations and reinforce growth momentum.”
China’s markets have been subdued as investors are awaiting the economic data releases for first two months as well as the fresh policy guidance at the National People Congress (NPC) in March, analysts said.
Comments
Comments are closed.