SHANGHAI: China stocks closed down while Hong Kong shares rose on Tuesday, as investors weighed domestic recovery and awaited stimulus signals in the upcoming policy meetings.
The market also tracked weak Asian stocks as the US dollar strengthened, following a surge in Treasury yields as investors contemplated the potential for a second Donald Trump presidency.
A private sector survey on Monday showed China’s manufacturing activity grew at the fastest pace in more than three years, while official PMI data released on Sunday showed a decline in manufacturing activity.
Investors awaited the coming Third Plenum this month, which will focus on policies on further deepening reforms and promoting the modernisation of China.
China stocks track Asian markets higher
Later in the day, US Federal Reserve Chair Jerome Powell will speak at an event hosted by the European Central Bank, bringing the path for US monetary policy into focus in a week that will see several closely watched employment reports, including Tuesday’s JOLTS job openings data, a Fed favourite.
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At the close, China’s blue-chip CSI300 index was down 0.18%, with its financial sector sub-index higher by 0.83%, the consumer staples sector up 1.63%, the real estate index down 2.04% and the healthcare sub-index down 1%.
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The Shanghai Composite index was up 0.08% at 2,997.01. The smaller Shenzhen index ended down 0.6% and the start-up board ChiNext Composite index was weaker by 1.049%.
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At the close of trade, the Hang Seng index was up 50.53 points or 0.29% at 17,769.14. The Hang Seng China Enterprises index rose 0.68% to 6,374.91.
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The sub-index of the Hang Seng tracking energy shares rose 3.5%, while the IT sector dipped 0.37%, the financial sector ended 0.51% higher and the property sector rose 0.29%.
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Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.59%, while Japan’s Nikkei index closed up 1.12%.
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