Hong Kong's market for Chinese shares experienced a decline following the unveiling of a new economic growth target by the Chinese government.
The Hang Seng Index (HSI) slumped 2.61% on Tuesday, despite Chinese Premier Li Qiang’s revealing an ambitious growth target. Premier Li announced an annual growth target of 5% at the National People’s Congress (NPC).
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In contrast to the bearish sentiment in Hong Kong, mainland Chinese stocks showed a different pattern, climbing dovishly, possibly due to state-funded purchases highlighted in a report by Bloomberg.