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  • Writer's pictureBy The Financial District

Asian Shares Mixed, China Up

In Asia, the stock markets exhibited a mixed trend, with China showing gains after a government investment fund announced plans to increase stock purchases.


On Monday, both the Shanghai and Shenzhen benchmarks fluctuated between marginal gains and significant losses, while shares of state-run banks and major companies experienced an increase in prices. I Photo: Stang_wm Wikimedia Commons



However, the gains in Chinese markets were tempered compared to recent losses, as reported by Stan Choe reported for the Associated Press (AP).


China's Central Huijin Investment, a sovereign fund with holdings in state-run banks and other government-controlled enterprises, pledged to escalate its purchases of stock index funds to support the markets amid pressures from a property crisis and economic slowdown.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

This move by the fund aims to counteract heavy selling pressure in Chinese markets, particularly in large state-owned banks and companies.


On Monday, both the Shanghai and Shenzhen benchmarks fluctuated between marginal gains and significant losses, while shares of state-run banks and major companies experienced an increase in prices.


Business: Business men in suite and tie in a work meeting in the office located in the financial district.

By midday Tuesday, Hong Kong's Hang Seng index surged by 3.3% to 16,026.94, driven by gains in technology shares, including e-commerce giant Alibaba, up by 7.4%, and JD.com, which rose by 6.3%.


The Shanghai Composite Index also saw an uptick of 2.5% to reach 2,770.83.


Banking & finance: Business man in suit and tie working on his laptop and holding his mobile phone in the office located in the financial district.

However, in other parts of Asia, Tokyo's Nikkei 225 index declined by 0.3% to 36,244.27, and South Korea's Kospi lost 0.7% to 2,570.85. Australia's S&P/ASX 200 fell by 0.6% to 7,578.90. Meanwhile, in Bangkok, the SET index gained 1%, and India's Sensex edged 0.2% higher.


On Wall Street, stocks retreated on Monday following strong economic data, potentially delaying anticipated interest rate cuts.


Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

The S&P 500 dropped by 0.3% to 4,942.81 from its previous all-time high. The Dow Jones Industrial Average also fell by 0.7% to 38,380.12, while the Nasdaq composite dipped by 0.2% to 15,597.68.




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