China stocks wobble on weak CPI; Hong Kong snaps 3 days of gains
** The sub-index of the Hang Seng tracking energy shares rose 0.9%, while the IT sector climbed 0.07%, the financial sector ended 0.37% lower and the property sector dipped 1.05%. ** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.37%, while Japan's Nikkei index closed down 0.35%.
China shares ended largely flat on Thursday as strong gains in copper miners countered a drag from weak consumer data, while Hong Kong stocks tracked Wall Street lower. ** At the close, the Shanghai Composite index was up 0.23% at 3,034.25.
** China released worse-than-expected March consumer data, maintaining pressure on policymakers to launch more stimulus as demand remains weak. ** "China still faces the risk of deflation, as domestic demand remains weak," said Zhang Zhiwei, chief economist at Pinpoint Asset Management.
** Hong Kong stocks snapped a three-day winning streak, as sticky U.S. inflation diminished hopes of early rate cuts and dragged down U.S. shares overnight. ** The blue-chip CSI300 index was down 0.01%, with its financial sector sub-index lower by 0.34%, the consumer staples sector down 0.32%, the real estate index down 0.59% and the healthcare sub-index down 1.04%.
** Yet, a rally in global commodities lifted the CSI Coal Index and the A-share Resources Index by 1.3% and 0.5%, respectively. ** The smaller Shenzhen index ended up 0.08% and the start-up board ChiNext Composite index was weaker by 0.439%.
** In Hong Kong, the Hang Seng index was down 44.14 points, or 0.26%, at 17,095.03. The Hang Seng China Enterprises index fell 0.21% to 6,003.97. ** The sub-index of the Hang Seng tracking energy shares rose 0.9%, while the IT sector climbed 0.07%, the financial sector ended 0.37% lower and the property sector dipped 1.05%.
** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.37%, while Japan's Nikkei index closed down 0.35%. ** At 0826 GMT, the yuan was quoted at 7.2369 per U.S. dollar, 0.03% weaker than the previous close of 7.2345.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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