SHANGHAI (Reuters) – Chinese stocks closed lower on Tuesday, while Hong Kong shares rose for a third straight session as China rebounds from the impact of the Covid-19 outbreaks, although analysts are signaling correction risks. .
The CSI300 index, which brings together the largest companies listed in Shanghai and Shenzhen, closed down 0.11%, while the Shanghai index fell 0.26%.
The Hong Kong Hang Seng Index rose 1.87%, while the China Enterprises Index rose 2.0%.
“China is on track for an economic recovery, providing a favorable momentum for its stock market,” said Max Luo, director at UBS Asset Management.
“The pace of the recovery depends on the change in policies, and we are awaiting economic data in June and July to assess the recovery,” Luo said. “If the numbers are not strong enough, more pro-growth measures can be expected.”
** Still, some analysts have signaled concerns about the market’s rise. “There are some signs that the market is a little overheated, so it follows correction risks,” said Wang Mengying, an analyst at Nanhua Futures.
. In TOKYO, the Nikkei index rose 1.84% to 26,246 points.
. In HONG KONG, the HANG SENG index rose 1.87% to 21,559 points.
. In SHANGHAI, the SSEC index lost 0.26% to 3,306 points.
. The CSI300 index, which brings together the largest companies listed in SHANGHAI and SHENZHEN, dropped 0.11% to 4,325 points.
. In SEOUL, the KOSPI index appreciated by 0.75%, at 2,408 points.
. In TAIWAN, the TAIEX index rose 2.35% to 15,728 points.
. In SINGAPORE, the STRAITS TIMES index rose by 0.68% to 3,117 points.
. On SYDNEY, the S&P/ASX 200 index advanced 1.41% to 6,523 points.
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