07/25/2022 01:11am EDT
SHANGHAI, July 25 (Reuters) - China stocks fell on Monday as domestic COVID-19 flare-ups and global recession concerns weighed on equities, although real estate companies surged as a source told Reuters that Beijing is planning to provide financial support to the sector.
The CSI300 index fell 0.8% to 4,203.55 at the end of the morning session, while the Shanghai Composite Index lost 0.7%, to 3,246.70.
The Hang Seng index dropped 0.8% to 20,454.69. The Hong Kong China Enterprises Index lost 0.9% to 7,039.86.
** Mainland China reported 800 new coronavirus cases for Sunday.
** Other Asian stocks also lost ground, as worries about a global economic downturn sapped investors' risk appetite.
** "A-shares appeared relatively weak since July, following a strong rebound," said CICC in a note, adding that investors should focus on the potential upcoming July Politburo meeting.
** China will set up a real estate fund to help developers resolve a crippling debt crisis, aiming for a warchest of up to 300 billion yuan ($44.4 billion), according to a state bank official with direct knowledge of the matter.
** The Hang Seng Mainland Properties Index jumped 3.4%, and the CSI 300 Real Estate Index rose 1.9%.
** New energy shares lost 1.7%, automobiles tumbled 2.8%, and communications equipment declined 2.1%.
** The Shanghai Stock Exchange (SSE) vowed to maintain market stability ahead of the politically significant 20th Party Congress later this year.
** China's transport ministry tightened existing rules governing how online ride-hailing firms should handle and share their data with regulators, signaling tighter regulatory scrutiny.
** Tech giants listed in Hong Kong dropped 2%, with index heavyweights Alibaba, Tencent and Meituan down between 2% and 3%.
** Meanwhile, the Financial Times reported that China is planning to sort U.S.-listed Chinese companies into groups based on the sensitivity of the data they hold, bringing them into compliance with U.S. rules. (Reporting by Shanghai Newsroom; editing by Uttaresh.V)

Sumber : Reuters