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China stocks fall as financial, consumer firms weigh; Hong Kong down

Reuters2021-06-29

* SSEC -1.0%, CSI300 -1.3%, HSI -0.8%

* HK->Shanghai Connect daily quota used -3.4%, Shanghai->HK daily quota used 0.8%

* FTSE China A50 -1.5%

SHANGHAI, June 29 (Reuters) - China stocks fell on Tuesday as investors booked profit after a rally, with financial and consumer firms leading the retreat.

** The CSI300 index fell 1.3% to 5,185.65 by the end of the morning session, while the Shanghai Composite Index lost 1.0% to 3,572.27.

** The retreat came after the blue-chip CSI300 index rose for the fifth straight session on Monday.

** The CSI300 financials index declined 1.3%, while the CSI300 consumer staples index dropped 2.1%.

** China will make its monetary policy flexible, targeted and appropriate, while keeping interbank liquidity reasonable, the central bank said on Monday, as authorities seek to consolidate a post-COVID-19 economic recovery.

** China's economy has staged a strong rebound from the impact of the COVID-19 pandemic, with Chinese exporters racing ahead to fill global demand bolstering the vast industry sector, but the recovery in the consumer end has been weak.

** "The net injection by the PBOC was to smooth liquidity across quarters and the PBOC would probably go back to drain short-term liquidity, while large inflows via the Stock Connect are unsustainable against a backdrop of a stronger dollar," said Yan Kaiwen, an analyst with China Fortune Securities.

** Yan said it's a bull market for growth stocks driven mainly by loose liquidity, and any signs of change in liquidity conditions could lead to large fluctuations in the market.

** Shares in China's leading battery maker CATL hit an all-time high, after the company extended a battery supply deal with Tesla Inc to 2025.

** According to Refinitiv data, investors via the Stock Connect linking mainland and Hong Kong sold net 2.6 billion yuan

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评论16

  • AmosTeo
    ·2021-06-30
    Like
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  • Jkan
    ·2021-06-29
    Comon tencent and babA
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  • robot1234
    ·2021-06-29
    China is pivoting towards dual circulation economic model due to US going all out to contain and destroy her 
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    • PearlynCSY
      Good comments
      2021-10-11
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    • PearlynCSY
      Hope China will continue to lift the economy of ASEAN which is badly affected by the covid pandemic
      2021-10-12
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  • yumzyumz
    ·2021-06-29
    like
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  • Orez13
    ·2021-06-29
    Long term impact
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  • JeffEng
    ·2021-06-29
    Like n comment
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    • NYY123
      Done
      2021-06-29
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    • JeffEng
      Thx
      2021-06-29
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  • Jchptan
    ·2021-06-29
    Hi
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    • qstocks
      like and comment
      2021-06-29
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  • JustinOh
    ·2021-06-29
    Comment and like ty
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  • hsh0405
    ·2021-06-29
    ,😅
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    • Jkan
      Ok
      2021-06-29
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  • ahlimlim
    ·2021-06-29
    Hold
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    • Noobinvestor
      Hold
      2021-06-29
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    • jazzspeed
      hold.... my beer... cheers
      2021-06-29
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  • nou
    ·2021-06-29
    a
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  • Alex77
    ·2021-06-29
    Let go [财迷] [财迷] [财迷] 
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  • Joeljp
    ·2021-06-29
    China stocks like BABA, JD already at lows, there is more upside in my opinion.
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    • Alex77
      [财迷] [财迷] [财迷]
      2021-06-29
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    • ericchou
      oo
      2021-06-29
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    • kungpao
      you're right
      2021-06-29
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  • jehhme
    ·2021-06-29
    ok
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    • jehhme
      cool
      2021-06-29
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    • yekky
      Not cool
      2021-06-29
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  • kxie
    ·2021-06-29
    [得意] 
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    • kxie
      [贱笑]
      2021-06-29
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  • Derrick0359
    ·2021-06-29
    Pls comment 
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    • nou
      a
      2021-06-29
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