Louella McCree спросил 2 года назад
SHANGHAI, April 24 (Reuters) — China and Hong Kong stocks started the week on a soft note amid lingering concern over the sustainability of the economic recovery, despite more bullish forecasts from global banks. ** China’s blue-chip CSI300 Index dropped 0.4% by the lunch break, while the Shanghai Composite Index fell 0.2%.
Hong Kong benchmark Hang Seng lost 0.6%. ** Investors are looking beyond companies’ first-quarter results for signs that China’s economy is indeed on its feet. ** China’s economic growth of 4.5% in the first quarter beat expectations, but «favourable base effects will fade» in the second half, while «the economy remains characterised by an uneven pace of recovery,» DBS wrote in a note to clients. ** Retail sales and production are picking up gradually; public sector investment has picked up, but private investment growth is anaemic, and the external demand outlook is uncertain, the bank said. ** The caution clouds the market, despite upgrades on China’s economy from some global institutions, including BofA Global Research, J.P.Morgan, Citigroup and UBS. ** «Uncertainty on the real estate recovery is a major factor holding back the market right now,» wrote Qi Wang, co-founder and CIO of MegaTrust Investment (Live Draw HK).
«I think the market is questioning how sustainable the consumption strength is if real estate fails to recover.» ** China’s tech-focused STAR Market fell 1.7%, while consumer and materials stocks also dropped. ** In Hong Kong, property and financial shares led the declines.
(Reporting by Shanghai Newsroom; editing by Eileen Soreng)
