SHANGHAI, Nov 24 (Reuters) – China stocks fell on Friday as investors remained cautious about the country’s sluggish economic recovery, with strong foreign outflows denting risk sentiment.<\/p>\n
** The blue-chip CSI 300 Index and the Shanghai Composite Index were both down 0.5% by the midday recess.<\/p>\n
** Hong Kong’s Hang Seng Index lost 1.4%, and the Hang Seng China Enterprises Index declined 1.6%.<\/p>\n
** Other Asian shares were also down, amid little guidance from Wall Street which was closed for a holiday, while the dollar remained on the back foot as investors bet U.S. rates have peaked.<\/p>\n
** Foreign investors sold a net 7.2 billion yuan ($998.46 million) of Chinese shares via the Stock Connect so far on the day, on course to log the biggest daily outflow in more than one month.<\/p>\n
** Recent economic data were a mixed bag and still remained weak, Yongxing Securities expected the market to keep a range-bound performance.<\/p>\n
** Small stocks, however, rose amid speculative bets. China’s innovative-small-companies-focused Beijing stock exchange jumped 4.5%, sending their weekly gain to nearly 20%, amid policy support and frienzed bets.<\/p>\n
** The CSI 300 Real Estate Index rose 0.3% after Bloomberg News reported that China might allow banks to offer unsecured short-term loans to qualified property developers for the first time. The Hang Seng Mainland Properties Index retreated 1.5% following a 6.4% jump in the previous session.<\/p>\n
** In mainland markets, shares in artificial intelligence slumped 2%, while semiconductors and new energy lost 1.4% and 1.3%, respectively.<\/p>\n
** Tech giants listed in Hong Kong fell 1.6%. ($1 = 7.2111 Chinese yuan)<\/p>\n
(Reporting by Shanghai Newsroom; Editing by Rashmi Aich)<\/p>\n","protected":false},"excerpt":{"rendered":"
SHANGHAI, Nov 24 (Reuters) – China stocks fell on Friday as investors remained cautious about the country’s sluggish economic recovery, with strong foreign outflows denting risk sentiment. ** The blue-chip CSI 300 Index and the Shanghai Composite Index were both down 0.5% by the midday…<\/p>\n","protected":false},"featured_media":0,"menu_order":0,"template":"","acf":[],"yoast_head":"\n