china stocks slip after forex reserves slide below key level
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

China stocks slip after forex reserves slide below key level

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleChina stocks slip after forex reserves slide below key level

An investor checks stock information on a mobile phone at a brokerage house in Shanghai, China.
Shanghai - Arab Today

China stocks edged lower on Wednesday, after foreign exchange reserves fell below a psychological level, weighing on already fragile investor sentiment amid tightening signals from the central bank.

Bearish inclinations spilled over to Hong Kong, where capital outflow concerns resurfaced following recent gains by the US dollar, which make emerging markets less attractive. 

On the mainland, both the CSI300 index and the Shanghai Composite Index fell 0.3 per cent, to 3,354.59 points and 3,142.93 points respectively.

China's foreign exchange reserves unexpectedly fell below the closely watched $3 trillion level in January for the first time in nearly six years. Still, the monthly drop was the smallest pace in seven months due to Beijing's tighter capital controls.

State media said China's financial markets shouldn't be too sensitive to changes in the size of foreign exchange reserves, as that is unnecessary.

Still, the decline in foreign reserves is denting market sentiment, although the negative impact is limited, according to Tian Weidong, analyst at Kaiyuan Securities in Xi'an.

He said investors were also concerned about US President Donald Trump's hawkish stance towards China.

"They are worrying about uncertainties in the world, worrying about Trump and also concerned if there's going to be a trade war," Tian said.

On mainland markets on Wednesday, energy stocks suffered the most in a board-based retreat, with an index tracking the sector down 0.8 percent at the lunch break, as oil prices extended losses after the United States reported growing crude stockpiles.

Bucking the broad trend was defence stocks, which added 1.2 per cent on restructuring hopes.

In Hong Kong, the Hang Seng index slipped 0.1 per cent, to 23,310.29 points, while the Hong Kong China Enterprises Index was barely changed, at 9,843.56 points.

The dollar index hold ground in early trading after hitting a one-week high in the previous session.

Most sectors in Hong Kong lost ground by the lunch break, while a measure of property developers gained 1.5 per cent as investors piled into real estate plays.

Index heavyweight China Overseas Land & Investment Ltd jumped 5 per cent at midday.


Source :Times Of Oman

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china stocks slip after forex reserves slide below key level china stocks slip after forex reserves slide below key level

 



Themuslimchronicle, themuslimchronicle

GMT 08:26 2018 Tuesday ,23 January

Five things to know about Davos

GMT 21:30 2017 Wednesday ,01 November

New York Times’ third-quarter revenue up 6.1%

GMT 11:09 2017 Friday ,24 November

Berlin police seeking more missing John Lennon items

GMT 06:34 2017 Saturday ,09 December

Rockets down Jazz for eighth straight NBA win

GMT 23:25 2017 Thursday ,16 February

Pakistan adds 16 new fighter jets to its fleet

GMT 10:50 2018 Tuesday ,23 January

Saudi university to open driving school for women

GMT 03:31 2017 Saturday ,07 January

Sharjah launches award for refugee support

GMT 21:54 2016 Wednesday ,01 June

December 21 - January 18

GMT 16:05 2017 Monday ,24 April

Sharapova's return divides rivals

GMT 13:50 2012 Sunday ,22 January

Egyptians can now remove any regime

GMT 07:26 2017 Sunday ,23 July

70 villagers kidnapped in Afghanistan
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle