BEIJING: Chinese stocks declined Tuesday morning, returning to the loss column after the Chinese government’s drastic market-stimulus efforts led to gains the previous day. The Shanghai Composite Index SHCOMP, -2.45% opened down 3.2%, then trimmed losses but remained 2% lower an hour into the session. In Hong Kong, however, the Hang Seng Index HSI, -0.71% managed to rise 0.3%, though the mainland-China-tracking Hang Seng China Enterprises Index HSCEI, -2.37% dropped 0.7%. Helping support the Hong Kong market, airline stocks rallied on the back of plunging oil prices. China Southern Airlines Co. 1055, -2.22% ZNH, -8.66% 600029, -5.25% surged 4.3%, China Eastern Airlines Corp. 0670, -3.79% CHEAF, +4.17% 600115, -4.64% spiked 4%, and Cathay Pacific Airways Ltd. 0293, +0.21% CPCAY, -1.98% advanced 1.6%. Sino-British banking giant HSBC Holdings PLC 0005, +1.40% HSBC, -2.04% HSBA, -0.84% rebounded 1.6%, trimming its 2.4% fall in the previous session. However, bourse operator Hong Kong Exchange & Clearing Ltd. 0388, -4.00% HKXCF, -13.95% extended its losses, dropping 1.8% following a 9.6% slide on Tuesday, and facing a possible eight-day losing streak amid broad market losses and a suspension of initial public offerings. Chinese brokerage firms also continued their selloffs, as Southwest Securities International Ltd. 0812, -11.84% 600369, -8.16% plummeted 10.5%, Shenwan Hongyuan H.K. Ltd. 0218, -10.18% 000166, -6.46% sank 7%, Huatai Securities Co. 6886, -10.06% 601688, -7.44% sagged 6.7%, and Haitong International Securities Group Co. 0665, -10.50% TFSGF gave up 5.5%.
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
