China stocks drop on weak data, Hong Kong shares rise slightly

From The Star Online: 2024-06-17 00:15:00

Mainland China stocks fell due to weaker-than-expected data showing continued struggles in the property sector, while Hong Kong shares saw a slight increase. China’s central bank kept key rates unchanged, adding pressure to shore up growth amid a property crisis. New home prices in China fell at a record pace, with new bank lending rebounding less than anticipated. The Shanghai Composite index was down at midday. Chinese H-shares in Hong Kong rose slightly, with the Hang Seng Index also up. Other Asian stock indices were mixed.



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