China stocks struggle despite state fund support

China stocks inched up while Hong Kong shares dropped as investor confidence remained weak. China's blue-chip CSI 300 Index closed up 0.4% but still near 4-1/2-year lows, while Hong Kong's Hang Seng Index lost 1.1%. The weakness is attributed to China's economic sluggishness, higher US yields, and global sentiment on fears of escalating Israel-Hamas war. Central Huijin, on behalf of China's central government, bought exchange-traded funds (ETFs) on Monday and plans to increase holdings in the future.

Oct 24, 2023 - 15:30
China stocks struggle despite state fund support
China stocks inched up while Hong Kong shares dropped as investor confidence remained weak. China's blue-chip CSI 300 Index closed up 0.4% but still near 4-1/2-year lows, while Hong Kong's Hang Seng Index lost 1.1%. The weakness is attributed to China's economic sluggishness, higher US yields, and global sentiment on fears of escalating Israel-Hamas war. Central Huijin, on behalf of China's central government, bought exchange-traded funds (ETFs) on Monday and plans to increase holdings in the future.