AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

SHANGHAI: Shanghai shares ended higher in a holiday-shortened week on Thursday, led by consumers stocks, after the central bank pledged support to ensure ample liquidity, though surveys showing a dip in China’s economic activity weighed on sentiment.

The Shanghai Composite Index closed 0.7% higher at 3,067.76, while the blue-chip CSI300 index fell 0.2% to 4,010.21.

The Hang Seng index fell 0.4% to 20,793.40, while the China Enterprises Index lost 0.3% to 7,117.75.

Both official and private surveys showed China’s services and factory activities contracted at a steeper pace in April amid escalating COVID-19 lockdowns, raising fears of a sharp economic slowdown in the second quarter that will weigh on global growth.

On Wednesday, China’s central bank pledged monetary policy support to help businesses badly hit by the latest COVID-19 outbreak in the country, and support a recovery in consumption.

Consumer staples edged up 0.2%, and consumer discretionary added 2.4%, while automobiles and healthcare firms each went up 3.5%.

Beijing shut scores of metro stations and bus routes and extended curbs on many public venues, focusing efforts to avoid the fate of Shanghai, where millions have been under strict lockdown for more than a month.

“We still believe markets should remain focused on the development of the pandemic and the corresponding zero-COVID strategy,” said Nomura in a note.

Tourism stocks fell 0.5% after government data showed Chinese travellers spent 43% less over the five-day Labour Day holiday than a year earlier.

Real estate developers lost more than 2%, dismissing vows to support the property market and provide reasonable financing needs to developers by the central bank, the securities regulator, the banking and insurance regulator and the Shenzhen Stock Exchange.

The CSI Computer Index dropped 1.5%, led by a 10% slump in Hangzhou Hikvision Digital Technology Co , following the Financial Times report that the United States is moving towards imposing new sanctions on the Chinese video surveillance company.

CATL plunged more than 8% after the world’s largest electric vehicle (EV) battery manufacturer reported a 23.6% drop in first-quarter profit.

Tech names listed in Hong Kong ended 0.1% lower after jumping as much as 2.8% in early trade, as the US central bank raised interest rates by 50 basis points but sounded a less hawkish tone than some had feared.

Tech investor traded cautiously ahead of a possible meeting between tech giants and China’s leaders on Friday, which could signal an end to a long crackdown on the internet sector.

Wuxi Biologics tumbled 5.4% to become the biggest decliner in the Hang Seng Index and the biggest drag of the benchmark.

Comments

Comments are closed.