The CSI300 index has shed 1.2 per cent so far this week, on track for its biggest weekly loss since late-July, while the Hang Seng Index has lost 3 per cent, set to extend losses from the previous week, if the current trend persists.
“Investor sentiment has largely shifted as the market turns volatile, with most in wait-and-see mode amid political ups and downs,” UBS analysts said in a client note.
“There’s more downside risk and higher uncertainty than a week ago. Until the year-end, clients will continue to like sectors such as technology, basic materials, and new consumer,” they said.
Tech majors listed in Hong Kong have fallen nearly 7 per cent this week, set for their worst week since April 7.
Trade tensions between the world’s two largest economies escalated this week, as the United States and China began charging additional port fees on ocean shipping firms that move everything from holiday toys to crude oil.Chinese sanctions imposed this week on U.S. affiliates of shipbuilder Hanwha Ocean aim to undermine South Korea-U.S. cooperation and “to coerce” Washington’s Asian ally, a U.S. State Department spokesperson said on Friday.Semiconductor shares traded onshore fell 2.8 per cent, while the tech-focused STAR50 index dropped 2.6 per cent.
The elite Central Committee of China’s ruling Communist Party will hold a closed-door meeting from Monday to Thursday to discuss, among other things, the country’s 15th five-year development plan.
FAQs
Q1. What are top indexes of China stock markets?
A1. China’s blue-chip CSI300 Index, Shanghai Composite Index, Hong Kong benchmark Hang Seng.
Q2. How are Chinese Semiconductor shares performing?
A2. Semiconductor shares traded onshore fell 2.8 per cent, while the tech-focused STAR50 index dropped 2.6 per cent.
