Helena Lyng Blak
11 weeks ago

Chinese shares in Hong Kong decline

China's growth target announcement leads to mixed reactions in the stock market.
A bird's eye view of Hong Kong at twilight.

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).

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. 


Disclaimer

The information provided by this Site is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.

More News

5 hours ago Israeli Airstrike Hits Rafah Tent Camp Israeli airstrike on Rafah camp kills dozens, raising international alarm.
6 hours ago Meta and Call of Duty Maker Sued by Families of School Shooting Victims Families of the 2022 Uvalde school shooting victims file lawsuits against major corporations and officials, claiming they contributed to the tragedy.
8 hours ago Walmart and Capital One Call It Quits on Partnership Walmart and Capital One announce the end of their six-year card partnership amidst legal disputes.
8 hours ago US Market Open - May 27, 2024: Wall Street Wavers but Nasdaq Soars Daily update from the US market open.
10 hours ago Crypto, Currently: May 27, 2024 - Ethereum Leads Weekly Surge, Bitcoin Holds Steady Daily update on Ethereum, Bitcoin, and more!
1 day ago Debunking the headline: US GDP grows by a third ahead of EU in 15 years Europeans need not worry as much as these articles would suggest.
1 day ago Empowering Women Could Boost Economic Growth, Says IMF Economists Discover how gender equality initiatives could transform economies in Japan and Korea.