China stocks flat ahead of consumer price data; Hong Kong shares down

Reuters poll showed a 0.2% rise in Consumer Price Index (CPI), pointing to continued weak demand. ** Hong Kong shares fell, following other Asian shares, as broad market sentiment was dented by Bank of Canada's surprising rate hike.

China stocks were roughly flat as sector performances were mixed, and Friday's consumer price data was in focus. Hong Kong stocks fell after a surprise interest rate hike by Bank of Canada revived worries U.S. rates could stay higher for longer. ** China's blue-chip CSI300 Index edged up 0.1% by the lunch break, while the Shanghai Composite Index was down 0.1%.

** Hong Kong's benchmark Hang Seng Index was down 0.4%, and the China Enterprises Index lost 0.8%. ** Sector performances in China have been mixed, with real estate shares continuing the rally, and media and artificial intelligence stocks losing steam.

** Bank shares were up 0.7% on the news that China's biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pressure on profit margins and reduce lending costs. ** China welcomes well-performing foreign institutions to do business in China and the risks in the financial sector are controllable overall, the head of its financial regulatory administration told the Lujiazui Forum in Shanghai on Thursday.

** In the same meeting, Yi huiman, chairman of the China Securities Regulatory Commission (CSRC) said that CSRC attaches great importance to the supervision of the capital market and will continue to strengthen the monitoring and supervision of market trading behaviors. ** Market participants are watching closely for May's consumer price and factory gate price to be released on Friday. Reuters poll showed a 0.2% rise in Consumer Price Index (CPI), pointing to continued weak demand.

** Hong Kong shares fell, following other Asian shares, as broad market sentiment was dented by Bank of Canada's surprising rate hike. ** Tech giants listed in Hong Kong were down 1.3%.

 

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