China stocks fall as Ukraine crisis escalates

China stocks fell on Thursday, tracking a decline in global markets after Russian President Vladimir Putin authorised a military operation in eastern Ukraine. ** Mainland developers listed in Hong Kong slumped 4.3%, with Shimao down nearly 10%, after a trustee said roughly $170 million worth of asset-backed notes guaranteed by the Chinese developer may not be redeemed on maturity. ** Consumer discretionary stocks plunged 4%, while the finance index lost nearly 3%.

China stocks fell on Thursday, tracking a decline in global markets after Russian President Vladimir Putin authorised a military operation in eastern Ukraine. The CSI300 index fell 1.3% to 4,563.95 at the end of the morning session, while the Shanghai Composite Index lost 0.9% to 3,458.12 points.

The Hang Seng index dropped 3.1% to 22,925.60. The Hong Kong China Enterprises Index lost 3.4% to 8,033.08. ** Putin authorised a military operation in eastern Ukraine on Thursday, in what could be the start of war in Europe over Russia's demands for an end to NATO's eastward expansion.

** Shortly after Putin spoke, explosions could be heard in the pre-dawn quiet of the Ukrainian capital of Kyiv. ** "Asian stock markets generally recorded significant losses today, and the worsening situation in Ukraine further impacted financial markets," said Kenny Ng, a securities strategist at China Everbright Securities International.

** Outflows through Northbound leg of the Stock Connect totalled 2.19 billion yuan at midday break, according to Refinitiv data,. ** China will keep the real estate market stable and step up coordination and precision of property policies this year, the country's housing minister said on Thursday.

** The real estate subindex eased 0.7%, while the financial subindex retreated 1.1%. ** Consumer staples slid 2.3%, while information technology stocks dropped 1.6%.

** Alibaba's Hong Kong-listed shares fell 6.6% to a record low ahead of earnings release later in the day. ** Chinese offshore-listed tech firms are facing a double whammy of fresh regulatory crackdowns by Beijing and growing geopolitical tensions over Ukraine, sending the Hang Seng Tech Idnex down more than 4%.

** Tencent Holdings and Meituan declined more than 3.5% each. ** Mainland developers listed in Hong Kong slumped 4.3%, with Shimao down nearly 10%, after a trustee said roughly $170 million worth of asset-backed notes guaranteed by the Chinese developer may not be redeemed on maturity.

** Consumer discretionary stocks plunged 4%, while the finance index lost nearly 3%. ** Russian aluminium producer OK Rusal MKPAO slumped 8.5%.

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