Chinese stocks closed higher on Tuesday, led by the real estate sector after a series of measures helped improve sentiment, while the Hong Kong market retreated after 10 days of gains.
The CIS property index rose 2.9% after the Chinese city of Shenzhen eased some restrictions on home purchases. The index is up 16% after reaching its lowest point on April 24.
“Our real estate team has recently noticed signs of recovery. Cheap valuations, supportive measures and no negative surprises on the balance sheet front should keep the risk/reward balance attractive,” HSBC analysts said in a note.
At the close, the Shanghai index rose 0.22%, while the CSI300 index, which brings together the largest companies listed in Shanghai and Shenzhen, closed with a gain of 0.03%. Hong Kong’s Hang Seng Index fell 0.53%.
. In TOKYO the Nikkei index advanced by 1.57%, to 38,835 points.
. In HONG KONG the HANG SENG index fell by 0.53% to 18,479 points.
. In SHANGHAI the SSEC index gained 0.22%, to 3,147 points.
. The CSI300 index, which brings together the major companies listed in SHANGHAI and SHENZHEN, advanced by 0.03%, to 3,659 points.
. In SEOUL, the KOSPI index rose 2.16% to 2,734 points.
. In TAIWAN the TAIEX index recorded an increase of 0.63%, to 20,653 points.
. IN SINGAPORE the STRAITS TIMES index fell by 0.10% to 3,300 points.
. In SYDNEY the S&P/ASX 200 index advanced by 1.44% to 7,793 points.
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
