Economy

China, Hong Kong shares fall as PBOC calls for higher rates

Date: Dec 6, 2017

Shanghai stocks fell to three-month lows while Hong Kong shares dropped to their lowest level in a month on Wednesday morning, amid rising expectations that central banks will tighten liquidity, pushing interest rates higher.

A senior Chinese researcher has urged central banks to adopt monetary policies that do not encourage markets to expect the indefinitely lower for longer interest rates that encourage excessive risk-taking by lenders, the Securities Times reported on Wednesday.

Shanghai Composite index was down 19.91 points or 0.6 % t at 3,283.77.China’s blue-chip CSI300 index was down 0.72 %, with its financial sector sub-index lower by 0.8% , the consumer staples sector down 0.75 %, and healthcare sub-index down 0.41%.

Chinese H-shares listed in Hong Kong fell 1.8 % at 11,277.89 while the Hang Seng Index was down 1.25 % at 28,481.64.

The smaller Shenzhen index was down 0.28 % and the start-up board ChiNext Composite index was unchanged.

Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.99 %while Japan’s Nikkei index was down 1.59%.

The yuan was quoted at 6.6147 per U.S. dollar, 0.06 % firmer than the previous close of 6.6188.

The largest percentage gainers in the main Shanghai Composite index were Grinm Advanced Materials Co Ltd up 8.98 %, followed by Shanghai Xinhua Media Co Ltd gaining 8.2 % and Shanghai Belling Corp Ltd up by 7.95%.

--ANA--

Comments

comments powered by Disqus

Web Content Viewer (JSR 286)

Actions
Loading...
Complementary Content
CLOSE

Your Name:*

Your Email:*

Your Message:*

Enter Captcha:*