From Business Recorder: 2024-05-29 02:26:43

China stocks saw a slight increase as IMF upgraded economic growth forecasts, predicting a 5% growth rate for the country this year. Tech shares dragged Hong Kong indexes lower, with Alibaba and Meituan experiencing declines. Shanghai Composite and CSI300 indexes both saw gains, with various sectors showing positive movements. Chinese H-shares in Hong Kong fell, while other Chinese indexes saw increases. Across the region, MSCI’s Asia ex-Japan stock index weakened. The yuan was slightly weaker against the US dollar. Trina Solar Co Ltd was among the top gainers, while Meituan and JD Health International Inc experienced declines.



Read more at Business Recorder: China stocks up as IMF upgrades GDP forecasts – Markets