SHANGHAI (Reuters) – China stocks closed lower on Tuesday, as investors worried that recent support measures were not enough for the housing sector to recover as Covid-19 cases surged. and expanding energy restrictions also detracted from sentiment.
The CSI300 index, which brings together the largest companies listed in Shanghai and Shenzhen, closed down 0.49%, while the Shanghai index lost 0.05%.
The Hong Kong Hang Seng index, meanwhile, dropped 0.78%.
Home developers lost 1.4% after closing almost unchanged in the previous session, even as China slashed its prime lending rate and lowered its mortgage benchmark.
Meanwhile, Bloomberg reported that China plans to offer 200 billion yuan ($29.2 billion) in special loans to ensure stalled real estate projects are delivered to buyers.
Health and beverage stocks were down 1.4% and 1.6%, respectively. Energy company shares rose 2.6%.
. In TOKYO, the Nikkei index fell 1.19% to 28,452 points.
. In HONG KONG, the HANG SENG index fell 0.78% to 19,503 points.
. In SHANGHAI, the SSEC index lost 0.05% to 3,276 points.
. The CSI300 index, which brings together the largest companies listed in SHANGHAI and SHENZHEN, dropped 0.49% to 4,161 points.
. In SEOUL, the KOSPI index depreciated by 1.10%, to 2,435 points.
. In TAIWAN, the TAIEX index dropped 0.98% to 15,095 points.
. In SINGAPORE, the STRAITS TIMES index fell by 0.50% to 3,246 points.
. In SYDNEY, the S&P/ASX 200 index fell 1.21% to 6,961 points.
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