HONG KONG: China stocks edged up while Hong Kong markets recouped most losses by Thursday’s close, as the Chinese central bank sent signals of further policy easing, bolstering market sentiment.
China still sees some room to lower the amount of cash that banks must hold as reserves, said Zou Lan, head of the People’s Bank of China’s monetary policy department, adding that the lender would continue to implement policies to support the economic recovery.
At the close, the Shanghai Composite index was up 0.14% at 2,788.31.
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The blue-chip CSI300 index was up 0.17%, with its financial sector sub-index higher by 0.55%, the consumer staples sector up 0.49%, the real estate index up 2.06% and the healthcare sub-index up 0.85%.
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The smaller Shenzhen index ended up 0.52% and the start-up board ChiNext Composite index was higher by 0.649%.
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In Hong Kong, the Hang Seng index was down 13.04 points or 0.07% at 17,444.30. The Hang Seng China Enterprises index fell 0.46% to 6,105.54.
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The sub-index of the Hang Seng tracking energy shares dipped 2.3%, while the IT sector dipped 0.03%, the financial sector ended 0.13% higher and the property sector rose 2.07%.
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Concerns over weakening oil demand dragged China- and Hong Kong-listed energy stocks lower. Hong Kong’s Hang Seng Mainland Oil & Gas Index dropped more than 3% to suffer the most significant losses, with China Petroleum & Chemical Corp falling 6%.
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Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.37%, while Japan’s Nikkei index closed down 1.05%.
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