China stocks fall as President Xi Jinping emphasizes technology supremacy, leading to weakened yuan and bond yields

From Barchart: 2024-07-21 23:01:47

China stocks fell on Monday after President Xi Jinping’s emphasis on technology supremacy. Yuan weakened and bond yields dropped due to China’s surprise interest rate cuts. U.S. President Biden ending reelection campaign added market uncertainty. Beijing outlined policy ambitions for advanced industries and business environment improvements. Financial and energy shares declined, while tech and healthcare stocks rose as investors reacted to these policy shifts.



Read more at Barchart: China stocks drop after party meeting; yuan, bond yields fall on rate cuts