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Hong Kong shares tumble, China stocks and yuan regain footing | Malay Mail

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SHANGHAI, May 10 — Hong Kong shares tumbled on Tuesday following a one-day holiday, playing catch-up with falls on Wall Street, while China stocks rebounded on Beijing’s vows to support the struggling economy, with signs of bargain hunting seen in both markets. The yuan found some footing after...

SHANGHAI, May 10 — Hong Kong shares tumbled on Tuesday following a one-day holiday, playing catch-up with falls on Wall Street, while China stocks rebounded on Beijing’s vows to support the struggling economy, with signs of bargain hunting seen in both markets.

Both China’s blue chip CSI300 Index and the Shanghai Composite Index rose 0.2 per cent by the midday break.“If Wall Street keeps falling, it would definitely be a drag on global markets, including Hong Kong and China.” “Hong Kong shares have corrected much earlier than US stocks, so their valuation is much lower,” he said.China stocks rebounded after the country’s central bank vowed yesterday further support for the slowing economy, and measures to boost confidence.

“The downward momentum has been nearly exhausted. Any positive element could trigger a robust rebound.”

 

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