Business & Investment

Chinese stocks: Chinese stocks have receded from their 13-year highs due to tensions between the US and China.Hong Kong up

Shanghai: Chinese stock Investors posted profits in response to strong backlash in concerns over US-China relations, retreating from Friday’s 13-year high.

The· CSI300 index At the end of the morning session it fell 1.0% to 5,458.06 points. Shanghai The composite index fell 0.6% to 3,553.96 points.

Trump administration officials are expected to discuss a plan to expand the executive order banning US investment in alleged Chinese military companies at a meeting Thursday afternoon.

US Ambassador to the United States United Nations, Kelly Craft will visit Taiwan from January 13th to 15th for talks with senior Taiwanese officials, a US delegation to the United Nations said Thursday, warning that they are playing with fire I urged China to do so.

Leading Friday’s decline, the CSI300 Consumer Staple Index and CSI300 Material Index fell 2.6% and 1.9%. Including session losses, both indices have risen 8.2% and 12%, respectively, this year.

The· CSI The new energy index, which tracks China’s high-flying new energy sector, has fallen 3.2%. Thanks to China’s carbon-neutral pledge, it rose 105% in 2020 and then rose 8% this year.

“Investors expect more inflows through investment trusts, so there are currently signs of congestion in some hot sectors,” said Jin Jin, an analyst at Caton Securities. There is. ”

Jin also pointed out the weakness of small cap stocks since China announced new delisting rules.

At the end of last year, Chinese exchanges announced new rules to simplify the delisting process for public companies.

In Hong Kong Hansen The Hong Kong-China Enterprise Index rose 1.7% to 10,980.60, while the index rose 1.3% to 27,899.47 points.

The Hang Seng Index fell 4.9% after global index providers MSCI Inc and FTSE Russell said they would pull three Chinese telecom companies off the benchmark in response to a US investment ban.



Chinese stocks: Chinese stocks have receded from their 13-year highs due to tensions between the US and China.Hong Kong up

https://economictimes.indiatimes.com/markets/stocks/news/china-stocks-retreat-from-13-year-high-on-sino-us-tensions-hong-kong-up/articleshow/80165880.cms Chinese stocks: Chinese stocks have receded from their 13-year highs due to tensions between the US and China.Hong Kong up

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