China Stocks Struggle Amid Economic Concerns and Lack of Stimulus

China's stock market remained subdued due to slow economic recovery and absence of significant stimulus, impacting investor sentiment. Key indices displayed mixed performance amid global market weakness. Authorities announced a 300 billion yuan investment for equipment upgrades and consumer trade-ins, but concerns linger over economic growth.

China's stock market faced subdued performance on Friday, influenced by concerns over a sluggish economic recovery and the lack of substantial stimulus measures. Investor sentiment took a hit as global markets also showed weakness.

Earlier this month, China reported weaker-than-expected economic growth, and a key leadership assembly emphasized policy continuity rather than transformative change. Despite authorities' pledge to allocate 300 billion yuan ($41.40 billion) for equipment upgrades and consumer trade-ins, confidence in China's economic recovery remains uncertain.

By midday, the Shanghai Composite index had decreased by 0.19% to 2,881.23 points. Other key indices displayed mixed results, with China's blue-chip CSI300 index remaining unchanged, while financial and consumer sectors declined. Meanwhile, Chinese H-shares in Hong Kong slightly dropped, and regional indices showed a varied performance.

(With inputs from agencies.)