China and Hong Kong stocks edge lower as technology shares fall
Technology · First reported 27 Oct, 05:56 · Updated 08:00
Chinese and Hong Kong benchmarks were slightly lower by midday Tuesday, with technology shares leading declines. Faster industrial-profit growth and a central-bank liquidity measure were also reported, while regional stocks elsewhere in Asia climbed.
- By midday Tuesday, the Shanghai Composite and CSI300 were each down 0.1%; Hong Kong’s Hang Seng Index was also down 0.1%.
- Technology shares fell: the STAR50 declined 1.5%, the ChiNext Composite 0.5%, and the Hang Seng Tech Index 0.8%. The CSI Semiconductor Index fell 2.2% to a six-month low, while the CSI AI Index was down 0.8%.
- China’s central bank said Monday it had decided to establish a swap facility to provide emergency liquidity to non-bank financial institutions facing large-scale redemptions.
- Data released Tuesday showed China’s industrial profits grew faster in September, although the report said differences between sectors remained pronounced.
- The report said Asian stocks outside China and Hong Kong rose, citing an anticipated Anthropic IPO filing and upcoming technology earnings and central-bank meetings.
Summary written by Lux AI from 3 articles
Key facts
- Shanghai Composite
- Down 0.1% to 3,692.58 points by midday Tuesday.
- CSI300
- Down 0.1% by midday Tuesday.
- Hang Seng Index
- Down 0.1%.
- CSI Semiconductor Index
- Down 2.2% at a six-month low.
- Swap facility
- China’s central bank said Monday it had decided to establish one for emergency liquidity to non-bank financial institutions facing large-scale redemptions.
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