AIRLINK 175.55 Decreased By ▼ -2.01 (-1.13%)
BOP 11.01 Decreased By ▼ -0.04 (-0.36%)
CNERGY 8.29 Increased By ▲ 0.12 (1.47%)
FCCL 47.23 Decreased By ▼ -0.09 (-0.19%)
FFL 16.02 Decreased By ▼ -0.10 (-0.62%)
FLYNG 27.31 Decreased By ▼ -0.04 (-0.15%)
HUBC 142.32 Decreased By ▼ -4.59 (-3.12%)
HUMNL 13.30 Decreased By ▼ -0.21 (-1.55%)
KEL 4.44 Decreased By ▼ -0.06 (-1.33%)
KOSM 5.90 Decreased By ▼ -0.01 (-0.17%)
MLCF 61.80 Decreased By ▼ -0.22 (-0.35%)
OGDC 226.77 Decreased By ▼ -7.91 (-3.37%)
PACE 5.77 Decreased By ▼ -0.03 (-0.52%)
PAEL 44.80 Decreased By ▼ -1.61 (-3.47%)
PIAHCLA 17.88 Decreased By ▼ -0.24 (-1.32%)
PIBTL 10.47 Decreased By ▼ -0.10 (-0.95%)
POWER 12.02 Increased By ▲ 0.03 (0.25%)
PPL 185.92 Decreased By ▼ -5.88 (-3.07%)
PRL 37.16 Decreased By ▼ -0.16 (-0.43%)
PTC 24.05 Increased By ▲ 0.85 (3.66%)
SEARL 100.29 Decreased By ▼ -0.60 (-0.59%)
SILK 1.15 No Change ▼ 0.00 (0%)
SSGC 38.51 Decreased By ▼ -1.20 (-3.02%)
SYM 14.75 Decreased By ▼ -0.28 (-1.86%)
TELE 7.73 Decreased By ▼ -0.11 (-1.4%)
TPLP 11.03 Decreased By ▼ -0.08 (-0.72%)
TRG 66.00 Decreased By ▼ -1.29 (-1.92%)
WAVESAPP 10.97 Decreased By ▼ -0.38 (-3.35%)
WTL 1.35 Decreased By ▼ -0.01 (-0.74%)
YOUW 3.78 Increased By ▲ 0.01 (0.27%)
BR100 12,826 Increased By 19.4 (0.15%)
BR30 38,861 Decreased By -842.2 (-2.12%)
KSE100 118,792 Decreased By -146.5 (-0.12%)
KSE30 36,779 Increased By 22.6 (0.06%)

SHANGHAI: China and Hong Kong stocks steadied on Friday after the previous session’s slump, as authorities moved to assuage investors worried about China’s economy and a looming trade war with the US.

However, the Chinese market is set to post its biggest weekly loss in almost a year, underscoring waning sentiment in the absence of fresh policy stimulus, and ahead of Donald Trump’s presidential inauguration on Jan. 20.

China’s blue-chip CSI300 Index was roughly flat by the lunch break, while the Shanghai Composite Index dipped 0.5%. For the week, both gauges are poised to lose more than 4%, thanks to Thursday’s roughly 3% slump.

In Hong Kong, the benchmark Hang Seng Index rose 0.9%.

“Trump’s tariff policy is the sword of Damocles,” Huaan Securities said in a note, attributing weakened confidence to signs of persistent economic weakness and absence of policy announcements in January.

In an apparent move to pacify jittery investors, China’s securities regulator vowed late on Thursday to crack down on the fabrication and dissemination of rumours that had contributed to market slides.

In another market-friendly gesture, China’s central bank said it had conducted a second round of swap facility operation worth 55 billion yuan ($7.53 billion) to bolster the stock market.

China’s economy will face many new difficulties and challenges in 2025 and there is ample room for macro policies, China’s top state planner told a news conference on Friday.

Meanwhile, China’s central bank told the Financial Times that it is likely to cut interest rates from the current level of 1.5% “at an appropriate time” in 2025.

Comments

Comments are closed.