Chinese shares fell in the first week of 2024 as TRADERS weighed concerns over the country’s slow recovery from the Covid-19 pandemic and signs of deflationary pressure.
The CSI300 index, which brings together the major companies listed in Shanghai and Shenzhen, closed with a decline of 0.54%, while the Shanghai index lost 0.85%. Hong Kong’s Hang Seng Index fell 0.66%.
Weekly, the CSI 300 and Hang Seng lost 3%, with the CSI 300 recording its worst week since October 20th.
Asian stock markets generally fell, keeping global stocks on track to post a nine-week gaining streak.
“China’s macroeconomic picture has remained largely unchanged over the past month: slow pace of near-term economic growth with limited concrete easing measures,” Goldman Sachs said in a note.
. In TOKYO the Nikkei index advanced by 0.27%, to 33,377 points.
. In HONG KONG the HANG SENG index fell by 0.66% to 16,535 points.
. IN SHANGHAI the SSEC index lost 0.85%, to 2,929 points.
. The CSI300 index, which brings together the major companies listed in SHANGHAI and SHENZHEN, fell by 0.54% to 3,329 points.
. In SEOUL the KOSPI index fell by 0.35% to 2,578 points.
. In TAIWAN the TAIEX index recorded a decline of 0.17%, to 17,519 points.
. IN SINGAPORE the STRAITS TIMES index rose by 0.32%, to 3,184 points.
. In SYDNEY the S&P/ASX 200 index fell by 0.07% to 7,489 points.
Source: Terra
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