SHANGHAI: China stocks traded sideways on Tuesday, with state firms seen taking measures to stabilise markets amid the ruling Communist Party’s ongoing congress, while delays of key economic data added to uncertainty in the market.

Hong Kong shares, meanwhile, rose for a third consecutive session, tracking global markets up as the dramatic U-turn in British fiscal policy brightened investor sentiment.

** The blue-chip CSI 300 Index closed down 0.2%, after rising as much as 0.6% in early morning trade, while the Shanghai Composite Index slipped 0.1%.

** The Hang Seng Index climbed 1.8%, and the Hang Seng China Enterprises Index jumped 2.2%.

China stocks jump on Wall Street rebound, PBOC support vow

** Investors are closely waiting for the results of China’s leadership reshuffle, which will be disclosed this weekend as the Communist Party Congress concludes.

** China unusually delayed the release of economic indicators scheduled for publication this week amid the congress, including its third-quarter GDP data.

** “We aren’t concerned that the (delayed) release in the data is because it is particularly weak,” ING analysts said in a note. “Rather, the delay suggests that the government believes that the 20th Party Congress is the most important thing happening in China right now and would like to avoid other information flows that could create mixed messages.”

** China’s vast financial bureaucracy has been busily tamping down ripples of turmoil across its currency and stock markets.

** China’s economy has stabilised and continues an upward trend currently, and the country will strengthen the implementation of economic support policies, state media quoted Premier Li as saying on Monday.

** Real estate developers dropped 1.7%, while healthcare added 1.7%, jumping for a fifth straight session.

** Tourism soared as much as 3.3% but finished up 0.1%. China Eastern Airlines advanced 2.6%, after the company said it plans to resume several international routes by the end of October.

** However, China offered no hint on the exit from zero-COVID policy during President Xi Jinping’s speech at the opening of Communist Party Congress.

** Tech firms listed in Hong Kong surged 4.3%, tracking overnight Wall Street gains. ** China’s biggest electric car maker BYD Co jumped 6.2%, as it said third-quarter net profit likely more than quadrupled.