China stocks fall as property, automobiles weigh; Hong Kong gains
Thursday, November 25, 2021       13:54 WIB

November 25, 2021 - 12:01 PM Updated
SHANGHAI (Reuters) - China stocks fell on Thursday, as property developers, automobiles and new energy shares weighed. Hong Kong inched up, after Alibaba and Tencent rebounded following continuous declines.
The CSI300 index (.CSI300) fell 0.3% to 4,901.49 at the end of the morning session, while the Shanghai Composite Index (. SSEC ) lost 0.1% to 3,589.18.
The Hang Seng index (.HSI) added 0.1% to 24,714.83. The Hong Kong China Enterprises Index (. HSCE ) was unchanged at 8,792.77.
Real estate developers (.CSI000952) and insurers (.CSI399809) lost 1% and 0.3%, respectively.
Chinese regulators will look into investment activities of insurers which were beyond the allowed investment scope, including those invested into commercial real estates projects, and into unlisted property developers, a state-backed media outlet reported on Thursday. read more
The coal sub-index (.CSI000820), the new energy sub-index (.CSI399808), and the automobiles sub-index (.CSI931008) dropped more than 1.2%, 1.3% and 2.3%, respectively.
Semiconductors (. CSIH 30184) rose 1.4% after China's banking and insurance regulator said on Wednesday that lenders should step up support to advanced manufacturers, self-reliant industries and supply chains. read more
The U.S. government put a dozen Chinese companies on its trade blacklist on Wednesday for national security and foreign policy concerns, inlcuding some Chinese semiconductor firms. read more
Hong Kong shares edged up as tech giants Alibaba and Tencent bounced back.
Alibaba Group (9988.HK) rebounded 2% after falling for six straight sessions on its disappointing earnings, while Tencent Holdings (0700.HK) gained 1.9%.
The Hang Seng Tech Index (.HSTECH) added 0.7%, even though the uncertainty over the tech crackdown remained.
China has required Tencent Holdings (0700.HK) submit any new apps or updates for inspection before they can be uploaded after a number of its apps were found to have infringed users' rights and interests, Chinese state media reported on Wednesday. read more
Reporting by Shanghai Newsroom; Editing by Rashmi Aich

Sumber : Reuters

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