SHANGHAI: China stocks fell on Wednesday, tracking other Asian markets lower after US inflation data came in higher than expected, while geopolitical concerns and China’s economic worries dented sentiment further.
China’s blue-chip CSI300 Index was down 0.4% at the end of the morning session, while the Shanghai Composite Index slipped 0.3%.
Hong Kong’s benchmark Hang Seng Index lost 1.3%, and the Hang Seng China Enterprises Index dropped 1.1%. Other Asian stocks slipped, while the US dollar was steadfast after US CPI and remarks from central bank officials worried investors that interest rates were going to be higher for longer.
Meanwhile, a diplomatic rift between China and the US deepened, with Beijing accusing Washington of flying high-altitude balloons into its airspace and that of other countries, as the US military examined debris of a suspected Chinese spy balloon it downed this month.
Investors also awaited further evidence to prove an economic recovery after Beijing scrapped its strict zero-COVID policy in December.
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