SHANGHAI: China stocks edged lower on Thursday, dragged down by consumer-related shares, while the technology sector led Hong Kong stocks higher.
Energy stocks drag China stock markets lower but EV shares rise
At the midday break, the Shanghai Composite index was down 0.05% at 2,720.40 points.
China’s blue-chip CSI300 index was down 0.14%, with its financial sector sub-index higher by 0.23%, the consumer staples sector down 1.47%, the real estate index up 0.2% and the healthcare sub-index down 0.7%.
Liquor giant Kweichou Moutai was down nearly 2% to the lowest level since October 2022.
Domestic demand remains a weak area in the Chinese economy, and investors are looking forward to a slew of economic and activity data including retail sales and house prices this Saturday to see if there’s any improvement.
Chinese H-shares listed in Hong Kong rose 0.81% to 6,031.11, while the Hang Seng Index was up 0.97% at 17,274.72.
Tech shares rose 1.4% and led gains in Hong Kong, with delivery giant Meituan up 4%.
HK-listed biotech giant Wuxi Apptec jumped 7.4%, after the company announced share buybacks the previous day.
The smaller Shenzhen index was up 0.08%, the start-up board ChiNext Composite index was higher by 0.32% and Shanghai’s tech-focused STAR50 index was down 0.16%.
Around the region, MSCI’s Asia ex-Japan stock index was firmer by 1.45%, while Japan’s Nikkei index was up 3.13%.
The yuan was quoted at 7.1194 per US dollar, almost flat from the previous close of 7.1192.
Source: Brecorder
