China, HK stocks close roughly flat

SHANGHAI: China and Hong Kong shares closed roughly flat on Monday as investors brace for fresh data this week, which will likely add to concerns over the economic health of the world’s second-biggest economy.

China’s blue-chip CSI300 Index closed up 0.2%, while the Shanghai Composite Index lost 0.1%.

In Hong Kong, the benchmark Hang Seng Index was little changed. Risk appetite has been curbed by signs that China’s post-COVID economic recovery is losing steam.

Following weaker-than-expected inflation data in May, a set of fresh data to be released this week will also likely undershoot forecasts.

“We think the pace of credit growth was likely subdued in May,” Goldman Sachs said in a note, forecasting that both money and loan data are below consensus.