China stocks fall as healthcare, industrial firms weigh; Hong Kong slips
Thursday, October 22, 2020       13:17 WIB

October 22, 202011:45 AM
By Reuters Staff
* SSEC -0.8%, CSI300 -0.8%, HSI -0.2%
* HK->Shanghai Connect daily quota used -1.1%, Shanghai->HK daily quota used 0.8%
* FTSE China A50 -0.6%
SHANGHAI, (Reuters) - Broad-based losses pulled China stocks lower on Thursday, with healthcare and industrials firms falling the most, even as policymakers vowed to balance the need for stable economic growth and preventing financial risks.
The CSI300 index fell 0.8%, to 4,753.74 points by the end of the morning session, while the Shanghai Composite Index lost 0.8%, to 3,297.32 points.
The tech-heavy start-up board ChiNext declined 1.4%, while the 50 index slipped 1.1%.
Leading the declines, the CSI300 healthcare index dropped 2% as vaccine makers retreated, while the CSI300 industrials shed 1.6%.
Sectors that have made robust gains so far this year are seeing some correction on worries over their lofty valuations, said Fu Yanping, an analyst with China Galaxy Securities.
Market participants are also cautious ahead of the November U.S. presidential election, although Chinese investors are not taking much action to deal with the risks related to it as of now as the link between the A-share market and U.S. equities has weakened, Fu said.
China will strike a balance between stabilising economic growth and preventing risks, even as debt was allowed to temporarily rise this year to support the coronavirus-hit economy, the head of the central bank Yi Gang said on Wednesday.
China's fiscal revenues grew 4.7% in the third quarter from a year earlier, reversing a 7.4% drop in the previous quarter, the finance ministry said on Wednesday, as the country's economic recovery picked up pace.
The Hang Seng index dropped 0.2%, to 24,699.11 points, while the Hong Kong China Enterprises Index lost 0.3%, to 10,047.16.
Around the region, MSCI 's Asia ex-Japan stock index was firmer by 0.42% while Japan's Nikkei index was down 0.73%. (Reporting by Luoyan Liu and Andrew Galbraith; Editing by Aditya Soni)

Sumber : Reuters
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