Business & Investment

Chinese stocks: Chinese and Hong Kong stocks fell on profit taking after recent rebound

Hong Kong: Chinese stocks fell on Friday, tracking weaknesses in other Asian markets, and investors fixed profits after a recent backlash driven by expectations of more economic stimulus from the next US president did. Joe Biden Covid-19 Mitigates the effects of the pandemic.

The· CSI300 index At the end of the morning session, it fell 0.5% to 5,537.05 and the Shanghai Composite Index fell 0.7% to 3,595.00.

ChiNext, a technology-intensive startup board, rose 0.7% and the STAR50 index rose 0.9%.

Republicans in the US Congress have indicated they are ready to work with the new president on the $ 1.9 trillion fiscal stimulus, which is his administration’s top priority, but some oppose the plan’s price tag.

The major rise, the CSI300 Material Index, rose 0.9% and the CSI300 Transport Index fell 0.1%.

Linus Yip, chief strategist at First Shanghai Securities, said, “It’s a post-rebound merger, the underlying tone of both the Shanghai and Hong Kong markets remains strong, and investors are backed by government policy. We have a strong trust in the market. ”

In Hong Kong Hansen The index fell 1.5% to 29,480.11, and the Hong Kong-China Enterprise Index also fell 1.5% to 11,707.24.

In this region, MSCI’s Asian stock index, excluding Japan, was strong at 0.72%, while Japan’s Nikkei index fell 0.4%.



Chinese stocks: Chinese and Hong Kong stocks fell on profit taking after recent rebound

https://economictimes.indiatimes.com/markets/stocks/news/china-hong-kong-stocks-slip-on-profit-taking-after-recent-rally/articleshow/80401874.cms Chinese stocks: Chinese and Hong Kong stocks fell on profit taking after recent rebound

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