China stocks steady ahead of Third Plenum meeting, Hong Kong shares fall on weak data

From Business Recorder: 2024-07-16 01:53:59

China stocks held steady awaiting details of reform measures from the ‘Third Plenum’ meeting. Weak economic data weighed on investor sentiment, with Hong Kong shares falling, led by tech stocks. China’s economy grew slower than expected in Q2 due to a property downturn. The Plenum will target manufacturing, tax reform, property crisis, consumption, and private sector growth. Ping An Insurance fell 5.4% in HK after a $3.5 billion convertible bond issue. Shanghai Composite index was down 0.21%, CSI300 up 0.21%. H-shares in HK fell 1.34%, Hang Seng down 1.37%, tech giants dropped 1.7%. Shenzhen index down 0.07%, ChiNext up 0.39%, STAR50 up 0.94%. MSCI’s Asia ex-Japan index weaker by 0.35%, Nikkei up 0.34%. Yuan quoted at 7.2649 per US dollar, 0.08% weaker.

Reference: https://www.brecorder.com/news/40313047/china-stocks-rise-as-weak-gdp-data



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