HONG KONG: China stocks finished higher while Hong Kong shares declined on Tuesday, the last day of February, as investors partially shifted their exposure to the A-share market while waiting for economic data confirming the recovery.
China’s blue-chip CSI 300 Index rose 0.63%, while the Shanghai Composite Index climbed 0.66%.
The Hang Seng Index slid 0.79%, while Hang Seng China Enterprises Index dropped 1.33%.
Both the Hang Seng Index and the Shanghai Composite posted their first monthly decline in February since November, snapping a three-month rally that began when China started to ease COVID restrictions.
The Hang Seng finished the month down 9.5%, erasing almost all the gains made in January, while the Shanghai Composite lost a mild 2% for the month.
Asia and emerging market funds have significantly increased their exposure to mainland China over the past month as it was one of the biggest underweights for the funds, HSBC analysts said in a note.
Comments
Comments are closed for this article.