HK stocks slip as mainland steadies on policy pledge
Mainland stocks ended higher on Monday, tracking gains in regional peers, while Beijing called for more efforts to stabilise the market. In Hong Kong, the benchmark Hang Seng Index inched down 32 points, or 0.1 percent, to end the day at 24,448 on turnover of HK$173.71 billion. The tech index dropped 37 points, or 0.9 percent, to 4,040 while the China enterprises index fell 13 points, or 0.2 percent, to 8,260. On the mainland, the Shanghai Composite Index rose 11 points, or 0.32 percent, to close at 3,660 on turnover of 682.53 billion yuan while the blue-chip CSI300 index inched up 0.1 percent. The Shenzhen Component Index fell 30 points, or 0.27 percent, to 11,145, on turnover of 800 billion yuan while the ChiNext Index inched down six points, or 0.27 percent, to close at 2,458 on turnover of 402 billion yuan. Shanghai's tech-focused Star50 index gained 0.3 percent. Shanghai's gains followed a pledge by the State Council on Friday to improve mechanisms to stabilise the capital market and enhance the stock market's inherent stability, state television CCTV reported. "China's economic data and equity performance have again breached policymakers' pain threshold, prompting fresh equity market support measures," analysts at Societe Generale said in a note. "These may put...
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