China, HK stocks drop, dragged by property stocks and yuan weakness
Thursday, May 30, 2024       16:08 WIB

May 30, 2024 at 8:43 am GMT
Updates to market close
By Summer Zhen
HONG KONG, May 30 (Reuters) -China and Hong Kong stocks declined on Thursday, as investors booked profit from property stocks, awaiting further credit and fiscal stimulus.
Meanwhile, China's yuan hovered near a six-month-low level against the U.S. dollar, putting pressure on broader sentiment.
China's CSI 300 real estate index .CSI000952 and mainland property firms listed in Hong Kong .HSMPI dropped 2.8% and 2.4%, respectively.
Semiconductor companies .CSI990001 rose 2.2%, outperforming the broader market.
Meanwhile, China's 30-year government bond yield CN230023= rose around 2 basis points to 2.54% after the central bank on Thursday told Reuters it will sell low risk debt including government bonds when necessary.
At the close, the Shanghai Composite index . SSEC was down 0.62% at 3,091.68.
** The blue-chip CSI300 index .CSI300 was down 0.53%, with its financial sector sub-index .CSI300FS lower by 0.75%, the consumer staples sector .CSI000912 down 1.49%, the real estate index .CSI000952 down 2.81% and the healthcare sub-index .CSI300HC down 0.48%.
** The smaller Shenzhen index . SZSC ended down 0.46% and the start-up board ChiNext Composite index .CNT was higher by 0.115%.
** The Hang Seng index .HSI was down 246.82 points, or 1.34%, at 18,230.19. The Hang Seng China Enterprises index . HSCE fell 1.44% to 6,462.95.
** The sub-index of the Hang Seng tracking energy shares .HSCIE dipped 2.2%, while the IT sector .HSCIIT dipped 0.88%, the financial sector . HSNF ended 1.43% lower and the property sector dipped 1.99%.
** Around the region, MSCI 's Asia ex-Japan stock index .MIAPJ0000PUS was weaker by 1.25%, while Japan's Nikkei index .N225 closed down 1.3%.
 Reporting by Summer Zhen; Editing by Janane Venkatraman and Shailesh Kuber 

Sumber : Reuters