News Formal

China Stocks Extend Slump as Banks Hold Mortgage-Linked Rate

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 50%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Chinese stocks extended losses as mainland banks surprisingly kept a key interest rate that’s linked to mortgages on hold, in a move that sent mixed messages on the country’s commitment to support the embattled property sector.

The Hang Seng China Enterprises Index, which tracks Chinese stocks listed in Hong Kong, slumped as much as 2.1% to the lowest since November. The Hang Seng Index, which fell into a bear market on Friday, slid for a seventh straight day, set for the longest losing streak since November 2021.

Heeding calls from authorities to bolster the market, China’s largest mutual fund houses promised to buy their own equity-focused products. At least 14 firms pledged to invest in their funds as of mid-Monday, taking the total tally to 870 million yuan . The planned purchases come on the heels of renewed vows from the securities watchdog Friday to boost markets, including cuts to stock handling fees and consideration to extend trading hours.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European Stocks Rise as Traders Mull Rates Outlook, China RisksEuropean stocks edged higher, but remained near a six-week low, as investors weighed mixed policy signals from China ahead of a speech by Federal Reserve Chair Jerome Powell later in the week.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Bruised Stocks Face Week Full of Tests, From Nvidia to PowellEquity traders reeling from the market’s worst stretch since February face some pivotal events in the days ahead, and a closely watched speech by Federal Reserve Chair Jerome Powell may not even be the biggest test of all.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Trending Stocks Today - Yahoo FinanceSee the list of trending stocks today, including share price change and percentage, trading volume, intraday highs and lows, and day charts.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »