SHANGHAI (Reuters) – Shares in China and Hong Kong tumbled on Tuesday as stricter measures against Covid-19 in Beijing reignited concerns about slowing growth despite promises of more economic support.
The CSI300 index, which brings together the largest companies listed in Shanghai and Shenzhen, fell 2.34% on the day, the biggest loss since May 6, while the Shanghai index fell 2.41%, the biggest drop since April 25.
The Hong Kong Hang Seng Index fell 1.75%, while the China Enterprises Index lost 1.98%.
The CSI300’s financial sector sub-index ended down 1.49%, consumer staples lost 1.45%, the housing index dropped 0.27% and the health sub-index dropped 3.7%.
Tech companies, which have led a market rally since late April, have fallen sharply. The CSI Info Tech index was down 4.23% and the STAR50 index in Shanghai was down 4.73%.
China’s daily Covid-19 numbers continue to be closely watched by investors and Beijing on Monday reported 99 new infections the previous day, the highest daily count so far during the month-long outbreak.
. In TOKYO, the Nikkei index fell 0.94% to 26,748 points.
. In HONG KONG, the HANG SENG index fell 1.75% to 20,112 points.
. In SHANGHAI, the SSEC index lost 2.41% to 3,070 points.
. The CSI300 index, which brings together the largest companies listed in SHANGHAI and SHENZHEN, dropped 2.34% to 3,959 points.
. In SEOUL, the KOSPI index fell by 1.57% to 2,605 points.
. In TAIWAN, the TAIEX index registered a drop of 1.19%, to 15,963 points.
. In SINGAPORE, the STRAITS TIMES index fell by 0.58% to 3,195 points.
. In SYDNEY, the S&P/ASX 200 index fell 0.28% to 7,128 points.
(Reporting by Andrew Galbraith)
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