China stocks dropped
for a second day, with technology and property companies leading losses
as Hong Kong’s market reopened after the Easter break.
The Shanghai Composite
Index slipped 0.5 percent to 2,944.276 as of 9:41 a.m. local time,
while Hong Kong’s Hang Seng China Enterprises Index fell 0.4 percent to
8,665.77. Developers declined on the mainland on Monday after Shenzhen
joined Shanghai in introducing measures late last week to tame soaring
real-estate prices, including increasing down-payment requirements.
In a potential boost
for energy companies, China’s top planning agency signed off on a
three-year plan to transform and upgrade the nation’s petrochemical
sector, Yicai.com reported, citing Zhao Jungui, vice-chairman of the
China Petroleum and Chemical Industry Federation.
Source : Bloomberg
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