March 22, 2024 at 01:06 am EDT
SHANGHAI, March 22 (Reuters) -
Chinese stocks fell on Friday and the yuan fell to four-month lows, dragging down markets broadly in Asia and rupturing the equity market rally after a surprise rate cut from the Swiss National Bank had investors wagering on who will ease policy next.
The Chinese yuan bottomed out at 7.2399 per dollar in the onshore market, breaching the psychologically important 7.2 per dollar level.
Foreign investors have sold 5.8 billion yuan ($802.8 million) of Chinese shares on a net basis via the Stock Connect so far in the day, a second straight session of outflows.
** By the midday break, the Shanghai Composite index was down 1.41% at 3,033.77 points.
** China's blue-chip CSI300 index was down 1.49%, with the financial sector sub-index easing 1.62%, the consumer staples sector down 1.91%, the real estate index down 2.22% and the healthcare sub-index declining 1.91%.
** Chinese H-shares listed in Hong Kong fell 3.45% to 5,701.42, while the Hang Seng Index was down 3.04% at 16,350.56.
** The smaller Shenzhen index fell 1.72%, the start-up board ChiNext Composite index declined 1.83% and Shanghai's tech-focused 50 index eased 1.48%.
** Around the region, MSCI 's Asia ex-Japan stock index was 1.37% lower, while Japan's Nikkei index was up 0.27%.
** The largest percentage gainers in the main Shanghai Composite index were Dongguan Dingtong Precision Metal Co Ltd , up 14.54%, followed by QingHai HuaDing Industrial Co Ltd, rising 10.09% and Epoxy Base Electronic Material Corp Ltd, up 10.06%.
** The largest percentage losers in the Shanghai index were Xianheng International Science & Technology Co Ltd, down 10.021%, followed by Dali Pharmaceutical Co Ltd , losing 10.019% and Xuancheng Valin Precision Technology Co Ltd, easing 10.005%.
** The top gainers among H-shares were Xinyi Solar Holdings Ltd, up 0.79%.
** The three biggest H-shares percentage decliners were JD Health International Inc, which fell 11.68%, Sunny Optical Technology Group Co Ltd, down 10.46% and Li Auto Inc, down 10.14%.
** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 3.7% while IT fell 3.3%. The top gainer on the Hang Seng was Henderson Land Development Co Ltd, up 2.61%, while the biggest loser was Orient Overseas (International) Ltd, down 15.04%. ($1 = 7.2248 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Sonia Cheema)
Sumber : Reuters
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