09/19/2022 01:03am EDT
HONG KONG,(Reuters) - Chinese shares were mixed on Monday as the central bank injected liquidity and cut its 14-day reverse repo rate, while U.S. President Joe Biden's latest comments on Taiwan spooked investors.
Hong Kong stocks declined, with the tech sector falling the most, following a big sell-off in U.S. markets on Friday as investors weighed the risk of another big interest rate increase from the Federal Reserve.
** China's blue-chip CSI 300 Index rose 0.14%, while the Shanghai Composite Index was down 0.16%.
** Hong Kong's Hang Seng Index fell 0.96% and the Hang Seng China Enterprises Index dropped 1.35%.
** Other Asian markets were subdued on Monday as investors braced for a busy week with 13 central bank meetings that are certain to see borrowing costs rise across the globe and some risk of a 100-basis-point hike in the United States.
** Joe Biden said on Sunday in CBS News's 60 Minutes that U.S. forces would defend Taiwan in the event of a Chinese invasion.
** China's central bank lowered the borrowing cost of 14-day reverse repos by 10 basis points on Monday and injected 2 billion yuan ($286.54 million) through 7-day reverse repos and another 10 billion yuan through the 14-day tenor.
** China's August economic data overall is slightly better than expected, although the real estate market is weak, CICC said in a note, adding that the valuation of A-shares is relatively low and the market liquidity is abundant, so the medium-term outlook should not be too pessimistic.
** The country's tourism stocks, up 2%, and Food & Beverage stocks, up 1.4%, led gains ahead of a 7-day national holiday starting from Oct. 1.
** In Hong Kong, the Hang Seng tech index dipped 2.04%.
** Alibaba Group tumbled 3.4% and Meituan declined 1.1%. (Reporting by Summer Zhen; Editing by Devika Syamnath)
Sumber : Reuters
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