SHANGHAI: China stocks dipped slightly on Wednesday as speeches by top financial regulators at the opening of the annual Lujiazui Forum delivered few fresh policy signals. Hong Kong shares also fell.
China, HK stocks close up as investors digest mixed macro data
China’s blue-chip CSI300 Index edged down 0.1% by the lunch break, while the Shanghai Composite Index lost 0.2%. Hong Kong’s benchmark index Hang Seng was down 1.2%.
China will advance the development of science and technology bonds to support innovation, Wu Qing, chairman of China’s Securities Regulatory Commission, told the Lujiazui Forum in Shanghai on Wednesday.
Meanwhile, the country’s foreign exchange regulator vowed to keep the yuan exchange rate basically stable and fend off external shocks and risks.
With few policy surprises from the forum, investors turned their focus to the upcoming July Politburo meeting for clearer signals on economic support.
One of the few bright spots onshore were liquor shares , which rebounded for the third straight session, after tumbling to their lowest level since September 2024 after some of China’s civil servants were banned from dining out in groups of more than three.
Risk sentiment remained fragile on Wednesday as Iran and Israel launched fresh missile strikes at each other, extending their air war into a sixth day.
Hong Kong shares of Chinese electric vehicle (EV) maker Li Auto fell nearly 4% to their lowest since May 9.
Tech majors listed in Hong Kong dropped 1.6%, tracking overnight losses in their US-listed counterparts during the New York session.
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