SHANGHAI: China stocks traded in a narrow range on Monday, even as regional markets advanced, as concerns surrounding a potential slowdown in the world’s second-largest economy prompted investors to remain on the sidelines.
Asian stocks edged higher as a holiday in Japan removed one source of recent volatility, and investors hunkered down for major US and Chinese economic data for an update on global growth prospects.
“The complexity and uncertainty of the external environment have increased significantly. Many problems cannot be solved quickly in the short term; combined with the recent decline in overseas markets, the A-share market will remain range-bound,” Orient Securities said in a note.
Investors awaited US producer and consumer prices numbers due on Tuesday and Wednesday, respectively, as well as a global central bankers’ meeting in Jackson Hole, Wyoming, to gauge the Federal Reserve’s rate trajectory.
China will also release a flurry of indicators this week, including credit and economic activity data, which is likely to show that the economy got off to a weak start in the second half of the year.
At the midday break, the Shanghai Composite index was flat at 2,861.29 points.
China’s blue-chip CSI300 index edged down 0.13%, with its financial sector sub-index lower by 0.26%, the consumer staples sector up 0.14%, the real estate index down 2.81% and the healthcare sub-index up 1.33%.
Chinese H-shares listed in Hong Kong edged 0.1% higher to 6,023.31, while the Hang Seng Index was up 0.05% at 17,098.70.
The smaller Shenzhen index was down 0.25%, the start-up board ChiNext Composite index was weaker by 0.1% and Shanghai’s tech-focused STAR50 index was up 0.13%?.
Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.29% while Japan’s Nikkei index was up 0.56%.
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