SHANGHAI: China stocks gained on Friday after three straight sessions of losses, while Hong Kong shares fell in conjunction with regional peers amid caution ahead of Federal Reserve Chair Jerome Powell’s speech.
China stocks track Asian markets higher
Powell is scheduled to speak at a central bank event in Jackson Hole, Wyoming, later on Friday, where global investors will tune in to gauge the extent and timing of US rate cuts.
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By the midday break, the Shanghai Composite index was up 0.28% at 2,856.73 points.
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China’s blue-chip CSI300 index was up 0.57%, with its financial sector sub-index higher by 1.39%, the consumer staples sector up 0.09%, the real estate index up 0.55% and the healthcare sub-index down 0.23%.
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Chinese H-shares listed in Hong Kong fell 0.4% to 6,199.07, while the Hang Seng Index was down 0.41% at 17,569.38.
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The smaller Shenzhen index was up 0.23%, the start-up board ChiNext Composite index was higher by 0.06% and Shanghai’s tech-focused STAR50 index was down 0.69%.
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Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.16% while Japan’s Nikkei index was up 0.25%.
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The yuan was quoted at 7.1376 per US dollar, 0.15% firmer than the previous close of 7.148.
American Dollar Exchange Rate