From Business Recorder: 2024-06-05 18:09:48

China stocks closed down, with Shanghai Composite down 0.83% and Hong Kong shares also down. Services activity in China accelerated in May, with staffing levels growing for the first time this year. Chinese AI chip companies are designing less powerful processors to keep access to TSMC amid US sanctions. Yuan weaker at 7.2458 per US dollar.

CSI semiconductor index up 0.4%. Shanghai Composite at 3,065.40, CSI300 down 0.58%. Shenzhen index down 1.19%. MSCI Asia ex-Japan index up 0.96%. Hang Seng down 0.15% at 18,505.56, Hang Seng China Enterprises down 0.21% to 6,572.21. Sunny Optical Tech Group up 4.91%, Zhongsheng Group Holdings down 7.42%. Energy shares dipped 1.3%, IT sector rose 0.38%.



Read more at Business Recorder: China and HK stocks close down despite upbeat service activity data – Markets