China stocks hit 4-1/2-month low due to central bank concerns

From BR Research: 2024-07-05 21:15:32

China stocks closed at a 4-1/2-month low amidst investor concerns about moves from the central bank. The CSI 300 index was down almost 1% for the week, with the Shanghai Composite index falling 0.26% to 2,949.93. Financial and consumer shares contributed to the decline.

The People’s Bank of China plans to sell bonds to cool a bond rally, holding hundreds of billions of yuan worth of bonds. Global Times urged the EU to take sincerity into account during EV tariff talks. The CSI 300 index dropped nearly 1% as markets reacted to these developments.

The Hang Seng index fell by 1.27% to 17,799.61, with the Hang Seng China Enterprises index falling 1.37% to 6,382.27. Different sectors contributed to the decline, with energy shares, IT, financials, and property all seeing decreases. The yuan was quoted at 7.2679 per US dollar.



Read more at BR Research: China stocks end at 4-1/2-month low – Markets