AGL 22.94 Increased By ▲ 0.91 (4.13%)
AIRLINK 111.29 Increased By ▲ 6.49 (6.19%)
BOP 5.25 Increased By ▲ 0.03 (0.57%)
CNERGY 3.72 Decreased By ▼ -0.01 (-0.27%)
DCL 7.99 Increased By ▲ 0.29 (3.77%)
DFML 40.27 Increased By ▲ 3.87 (10.63%)
DGKC 88.00 Increased By ▲ 0.95 (1.09%)
FCCL 21.99 Increased By ▲ 0.01 (0.05%)
FFBL 42.20 Increased By ▲ 1.24 (3.03%)
FFL 8.55 Decreased By ▼ -0.10 (-1.16%)
HUBC 153.29 Increased By ▲ 3.04 (2.02%)
HUMNL 10.45 Increased By ▲ 0.14 (1.36%)
KEL 4.50 Increased By ▲ 0.05 (1.12%)
KOSM 3.85 Increased By ▲ 0.06 (1.58%)
MLCF 36.80 Decreased By ▼ -0.10 (-0.27%)
NBP 47.99 Increased By ▲ 0.06 (0.13%)
OGDC 131.80 Increased By ▲ 2.10 (1.62%)
PAEL 26.15 Decreased By ▼ -0.34 (-1.28%)
PIBTL 6.03 Increased By ▲ 0.05 (0.84%)
PPL 115.50 Increased By ▲ 1.16 (1.01%)
PRL 22.60 No Change ▼ 0.00 (0%)
PTC 12.58 Increased By ▲ 0.06 (0.48%)
SEARL 55.69 Increased By ▲ 1.49 (2.75%)
TELE 7.20 Increased By ▲ 0.10 (1.41%)
TOMCL 37.00 Increased By ▲ 1.10 (3.06%)
TPLP 7.85 Decreased By ▼ -0.30 (-3.68%)
TREET 15.30 Decreased By ▼ -0.20 (-1.29%)
TRG 54.55 Increased By ▲ 0.54 (1%)
UNITY 31.86 Decreased By ▼ -0.14 (-0.44%)
WTL 1.17 Decreased By ▼ -0.02 (-1.68%)
BR100 8,343 Increased By 52.7 (0.64%)
BR30 26,335 Increased By 323.4 (1.24%)
KSE100 78,987 Increased By 447.9 (0.57%)
KSE30 25,365 Increased By 156.8 (0.62%)

SHANGHAI: Chinese stocks fell for a third session on Friday, tracking weaker global peers amid worries stemming from intensifying conflict in the Middle East and surging US bond yields.

Major Chinese stock indexes, logged their worst week in the year, with both hitting fresh lows in 2023.

The blue-chip CSI 300 Index and the Shanghai Composite Index lost 0.7% each at close.

Hong Kong’s Hang Seng Index dropped 0.7% and the Hang Seng China Enterprises Index declined 0.9%.

For the week, the CSI 300 retreated 4.2% and the Hang Seng lost 3.6%.

Asian shares plumbed a fresh 11-month trough as fears of a regional conflict in the Middle East intensified and a relentless rise in long-term US yields pressured valuations, while supply concerns lifted oil prices further.

The yield on the 10-year US Treasury note, a safe haven in times of economic uncertainty that also sets the tone for borrowing costs, hit 5% on Thursday for the first time since July 20, 2007.

It overshadowed China’s faster-than-expected growth in the third quarter, although investors are still worried about the deepening downturn in the property sector.

Foreign investors sold a net 24 billion yuan ($3.28 billion) of Chinese shares via the Stock Connect this week, marking the biggest weekly selling in two months.

“Current weakness in the market is mainly due to liquidity - the selling of foreign investors hit market sentiment and offset the effect of other good news,” said analysts at Bohai Securities.

Comments

Comments are closed.