China stocks flat after disappointing trade data, Hong Kong shares down

China stocks were roughly flat on Tuesday after the country's July exports and imports contracted more than expected. By midday, they sold a net 4.4 billion yuan ($610.22 million) of Chinese stocks. ** CSI300 Healthcare Index rebounded slightly after losing roughly 7% since the end of July after China's new anti-corruption clampdown started.

China stocks were roughly flat on Tuesday after the country's July exports and imports contracted more than expected. Hong Kong shares were down, led by property stocks. ** China's blue-chip CSI300 Index edged up 0.1% by the lunch break, while the Shanghai Composite Index was flat. Hong Kong benchmark Hang Seng was down 1.4%.

** China's exports fell 14.5% in July year-on-year, while imports contracted 12.4%, customs data showed on Tuesday, in the worst showing for outbound shipments from the world's second-largest economy since February 2020. ** Though the trade data fell short of market expectations, China stocks were not reacting much to the news.

** UBS analysts said in their China second-half equity outlook that current onshore market sentiment is "overly pessimistic", though they are not expecting a sharp increase in capital inflows in the short term, but a rather gradual economic recovery aided by policies that will ultimately lead stocks higher. ** Foreign capital outflow was seen via the northbound trading link. By midday, they sold a net 4.4 billion yuan ($610.22 million) of Chinese stocks.

** CSI300 Healthcare Index rebounded slightly after losing roughly 7% since the end of July after China's new anti-corruption clampdown started. ** Chinese pharma giant Hengrui also rebounded, up 2.8%, after losing 20% since July 28.

** Meanwhile, securities stocks were up 0.5% after reversing some gains in early morning trade. ** Mainland property developers traded in Hong Kong slumped 4.4%, with Longfor Group plunging 9.1% and Country Garden dropping 7.6%.

** Tech giants listed in Hong Kong lost 2.1%. ($1 = 7.2105 Chinese yuan)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)