From Business Recorder: 2024-05-13 00:56:01

China stocks remained mostly flat as $138 billion in stimulus bonds were issued, offsetting weak credit growth data. New bank lending fell in April, with broad credit growth hitting a record low. China plans to sell 1 trillion yuan in long-term treasury bonds to boost the economy. Hopes dimmed as U.S. tariffs on Chinese EVs loom.

Asian shares reached 15-month highs, but inflation figures could impact U.S. rate cut expectations. The Shanghai Composite index dipped slightly to 3,151.94 points. Chinese indices fluctuated, with H-shares in Hong Kong rising. The Shenzhen and ChiNext Composite indices were lower, while MSCI’s Asia ex-Japan stock index was up. Japan’s Nikkei index fell.



Read more at Business Recorder: China stocks flat as stimulus bond issuance offsets weak credit data – Markets