HONG KONG: China stocks traded within a narrow range on Thursday, while Hong Kong shares dipped, as investors remained on the sidelines ahead of the central economic working conference that is likely to provide guidance on next year’s economic stimulus plan.
At the close, the Shanghai Composite index was up 0.12% at 3,368.86.
The blue-chip CSI300 index was down 0.23%, with its financial sector sub-index higher by 0.04%, the consumer staples sector down 0.53%, the real estate index down 0.59% and the healthcare sub-index down 0.61%.
Media stocks and shares in anime comic games jumped more than 4% each, lifting the index. In Hong Kong, the Hang Seng index was down 182.02 points or 0.92% at 19,560.44. The Hang Seng China Enterprises index fell 1% to 7,014.13.
Bitcoin ETFs,, traded in Hong Kong bucked the trend, up between 5.6% and 6.7%, as the cryptocurrency surpassed $100,000 for the first time on Thursday.
The central economic working conference, reportedly to be held next week, may shed some light on China’s policy outlook.
Economists at Nomura noted in a report that economic stimulus measures may not be announced until the March 2025 National People’s Congress, warning that the economic momentum seen in the fourth quarter could slow in the first half of 2025.
The smaller Shenzhen index ended up 0.74% and the start-up board ChiNext Composite index was higher by 0.364%.
Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.03%, while Japan’s Nikkei index closed 0.3% higher.
Source: Brecorder
