AGL 37.99 Decreased By ▼ -0.03 (-0.08%)
AIRLINK 215.53 Increased By ▲ 18.17 (9.21%)
BOP 9.80 Increased By ▲ 0.26 (2.73%)
CNERGY 6.79 Increased By ▲ 0.88 (14.89%)
DCL 9.17 Increased By ▲ 0.35 (3.97%)
DFML 38.96 Increased By ▲ 3.22 (9.01%)
DGKC 100.25 Increased By ▲ 3.39 (3.5%)
FCCL 36.70 Increased By ▲ 1.45 (4.11%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 14.49 Increased By ▲ 1.32 (10.02%)
HUBC 134.13 Increased By ▲ 6.58 (5.16%)
HUMNL 13.63 Increased By ▲ 0.13 (0.96%)
KEL 5.69 Increased By ▲ 0.37 (6.95%)
KOSM 7.32 Increased By ▲ 0.32 (4.57%)
MLCF 45.87 Increased By ▲ 1.17 (2.62%)
NBP 61.28 Decreased By ▼ -0.14 (-0.23%)
OGDC 232.59 Increased By ▲ 17.92 (8.35%)
PAEL 40.73 Increased By ▲ 1.94 (5%)
PIBTL 8.58 Increased By ▲ 0.33 (4%)
PPL 203.34 Increased By ▲ 10.26 (5.31%)
PRL 40.81 Increased By ▲ 2.15 (5.56%)
PTC 28.31 Increased By ▲ 2.51 (9.73%)
SEARL 108.51 Increased By ▲ 4.91 (4.74%)
TELE 8.74 Increased By ▲ 0.44 (5.3%)
TOMCL 35.83 Increased By ▲ 0.83 (2.37%)
TPLP 13.84 Increased By ▲ 0.54 (4.06%)
TREET 24.38 Increased By ▲ 2.22 (10.02%)
TRG 61.15 Increased By ▲ 5.56 (10%)
UNITY 34.84 Increased By ▲ 1.87 (5.67%)
WTL 1.72 Increased By ▲ 0.12 (7.5%)
BR100 12,244 Increased By 517.6 (4.41%)
BR30 38,419 Increased By 2042.6 (5.62%)
KSE100 113,924 Increased By 4411.3 (4.03%)
KSE30 36,044 Increased By 1530.5 (4.43%)
Markets

China, HK stocks fall as weak lending data fans liquidity concerns

  • In Hong Kong, healthcare shares also fell, with the sub-index going down 3.2%
Published August 12, 2021

China and Hong Kong shares fell on Thursday as weaker-than-expected lending data triggered liquidity concerns and weighed on sentiment.

** The CSI300 index fell 0.6% to 4,984.51 points at the end of the morning session, while the Shanghai Composite Index lost 0.1% to 3,528.27 points.

** In Hong Kong, the Hang Seng index dropped 0.1% to 26,636.92 points, while the Hong Kong China Enterprises Index lost 0.3% to 9,516.72.

Japan stocks end higher on hopes of economic rebound

** China's new bank loans fell to 1.08 trillion yuan ($166.5 billion) in July, its lowest in nine months.

** Growth of outstanding total social financing (TSF), a broad measure of credit and liquidity in the economy, slowed to 10.7% in July - the weakest reading since February 2020 - from a year earlier and from 11% in June.

** "We expect the slowdown and resulting headwind to the economy to continue in the coming months, further RRR and policy rate cuts notwithstanding," Capital Economics said in a note.

** Consumer staples sub-index went down 1.2%, while the healthcare sub-index slipped 1.4%.

** The steel sub-index gained 3.22%.

** The semiconductors sub-index rose 0.73%. The index has gained around 35% so far this year. The tech-heavy STAR market rose 0.4% on the day.

** "We expect STAR/ChiNext to continue to outperform in the near term as they are skewed to new energy, semi and computers with improving fundamentals," wrote Meng Lei, A-share Strategist at UBS Securities. "However, we do not think liquidity will ease further in the near term unless there is material downside risk to the economy."

** In Hong Kong, healthcare shares also fell, with the sub-index going down 3.2%.

** Insurers listed in Hong Kong fell, a day after China Banking and Insurance Regulatory Commission said it would strengthen oversight on products, sales, claims and information security of online insurers.

** Chinese online insurer ZhongAn led the decline, with its shares tumbling 9.4%. The financials sub-index dropped 0.8%.

** Heavily-indebted developer China Evergrande Group plunged over 7% after a strong rebound earlier this week that came on the back of asset sale plans.

Comments

Comments are closed.