Shares in China rose in choppy trade on Wednesday, led by property
companies, while Hong Kong stocks slipped on concerns over China's
slowing economy ahead of Chinese trade data for July.
At midday, the CSI300 of leading Shanghai and Shenzhen A-share listings was up 0.7 per cent, and the Shanghai Composite Index gained 0.3 per cent at 2,067.55 points. If the gains hold, the CSI will be up for a seventh straight day.
The Hang Seng Index slipped 0.3 per cent to 21,861.3 points, while the China Enterprises Index of the top Chinese listings in Hong Kong fell 0.4 per cent.
"We can't find any positive factors that can trigger a rebound of the local shares, particularly after some disappointing company results announcements that created jitters," said Ben Kwong, KSI Asia chief operating officer of Hong Kong securities firm KSI Asia.
"The investors are waiting for news as the market lacks direction now," he said, adding that China trade data on Thursday may provide clues on the health of the world's second-largest economy.
On Friday, China will release consumer and producer price data.
The Chinese property sector extended recent gains after official media said on Wednesday the government may gradually lift restrictions on property developers raising capital in the market. The restrictions were set three years ago to cool home prices.
At midday, the CSI300 of leading Shanghai and Shenzhen A-share listings was up 0.7 per cent, and the Shanghai Composite Index gained 0.3 per cent at 2,067.55 points. If the gains hold, the CSI will be up for a seventh straight day.
The Hang Seng Index slipped 0.3 per cent to 21,861.3 points, while the China Enterprises Index of the top Chinese listings in Hong Kong fell 0.4 per cent.
"We can't find any positive factors that can trigger a rebound of the local shares, particularly after some disappointing company results announcements that created jitters," said Ben Kwong, KSI Asia chief operating officer of Hong Kong securities firm KSI Asia.
"The investors are waiting for news as the market lacks direction now," he said, adding that China trade data on Thursday may provide clues on the health of the world's second-largest economy.
On Friday, China will release consumer and producer price data.
The Chinese property sector extended recent gains after official media said on Wednesday the government may gradually lift restrictions on property developers raising capital in the market. The restrictions were set three years ago to cool home prices.
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