China stocks rise as property, infrastructure firms gain; Hang Seng down

China stocks rose on Tuesday, with property and infrastructure firms leading gains as the country's central bank unexpectedly cut the borrowing costs of its medium-term loans. ** The CSI300 index rose 1.1%, to 4,818.35 points at the end of the morning session, while the Shanghai Composite index gained 0.9% to 3,574.89 points. ** China's central bank on Monday cut the borrowing costs of its medium-term loans for the first time since April 2020.

China stocks rose on Tuesday, with property and infrastructure firms leading gains as the country's central bank unexpectedly cut the borrowing costs of its medium-term loans. ** The CSI300 index rose 1.1%, to 4,818.35 points at the end of the morning session, while the Shanghai Composite index gained 0.9% to 3,574.89 points.

** China's central bank on Monday cut the borrowing costs of its medium-term loans for the first time since April 2020. Analysts believe the rate cuts could lead to strong infrastructure spending, credit growth and support for the real estate sector in 2022. ** Real estate developers jumped 4.8% on Tuesday, following news on Shanghai Pudong Development Bank Co's bond issuance to fund real estate acquisitions.

** Beijing has been encouraging large developers and banks to acquire quality assets from cash-strapped real estate firms to ease the liquidity pressure on the sector. ** The infrastructure sub-index jumped 4% in the morning session, while the construction and engineering sub-index surged 5.1%.

** The Hang Seng index dropped 0.1% to 24,183.54 points, while the Hong Kong China Enterprises index gained 0.2% to 8,481.01. ** The Hang Seng Tech index gained 0.4%, with Tencent Holdings, the index heavyweight, down 1.2%; Meituan was up 0.8% by the morning session, following news of a delivery service tie-up with Starbucks.

** Hang Seng Mainland Properties index added 2.5%, with Shimao Group up as much as 5.6% after it won approval from creditors to extend the payment deadline of a 450 mln yuan ($70.9 mln) asset-backed security.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)