[sgbuffett]

China shares slip as growth fears prompt foreign outflows
24 May 2022 12:52

• SSEC -1.1%, CSI300 -1.14%, HSI -1.38%
  
• Outflows from foreign investors top 7.5 bln yuan
  
• China says it will take targeted steps to boost economy
  

SHANGHAI, May 24 (Reuters) – Chinese shares fell on Tuesday, with financial and healthcare firms leading broad-based losses amid heavy selling by foreign investors, as global worries over slowing growth continue to weigh despite new pledges of economic support from Beijing.

• * At the midday break, the Shanghai Composite index was down 1.1% at 3,112.37.
  
• * China's blue-chip CSI300 index was down 1.14%, with its financial sector sub-index lower by 0.86%, and consumer staples sector down 1.08%.
  
• * The real estate index was 0.21% lower and the healthcare sub-index fell 2.45%.
  
• * Foreign investors were net sellers of A-shares on Tuesday, with Refinitiv data showing outflows of more than 7.5 billion yuan ($1.13 billion) through the Stock Connect programme
  

by the midday break. 

• * Chinese H-shares listed in Hong Kong fell 1.33% to 6,928.97, while the Hang Seng Index was down 1.38% at 20,187.37.
  
• * The smaller Shenzhen index was down 1.86%, the start-up board ChiNext Composite index was weaker by 1.95% and Shanghai's tech-focused STAR50 index was down 2.4%.
  
• * Automotive shares shook off the broader market gloom, with a sub-index tracking the sector rising 0.38%, after China said it would reduce some passenger car purchase taxes by 60 billion yuan.
  
• * The tax reduction is among a number of steps China's cabinet has pledged to support an economy wracked by widespread COVID-19 outbreaks that are hobbling an already-slowing economy....
  
• * But in a sign of the challenge of controlling the coronavirus, Beijing stepped up quarantine efforts to end a month-old outbreak in the capital....
  
• * News of the tax measures helped to lift Geely Automobile Holdings Ltd up 5.28% in Hong Kong, making it the top gainer on the Hang Seng.
  
• * The yuan was quoted at 6.6599 per U.S. dollar, 0.17% weaker than the previous close of 6.6488.
  

[cityhantam]

SSE Composite Index
3,070.93
-561.40 (-15.46%)year to date
24 May, 3:00 pm GMT+8


S&P 500
3,973.75
-822.81 (-17.15%)year to date
23 May, 5:43 pm GMT-4

[Yin yang]

They did it on purpose one... wat's the use of $$$ when u r going to lose taiwan..
Miliatary prepardness n stability , unity more impt to them.
U dont really know wat the monkeys r up to....suddenly, bitten lands his plane in taipeh...

[sporeguy]

SSE Composite Index
3,070.93
-561.40 (-15.46%)year to date
24 May, 3:00 pm GMT+8


S&P 500
3,973.75
-822.81 (-17.15%)year to date
23 May, 5:43 pm GMT-4

Selective reporting - anything China bad but these people very quiet on US!

No worry for China! Trillions of dollars of savings- just sell US Treasury and see US and the western world shitting or not!

[sporeguy]

[sporeguy]

Now China stock markets down these people crying collapse of China ...

Take a look at Europe today ...



How? No cry kpkb!? Not alarm Europe will collapse too? Or in this case you biased people claim profit taking or consolidation? Not foreign funds pull out?

That's what I call these people SELECTIVE REPORTING with an agenda!

[webinarian]

Chinese economy has no relation with stock market. Unlike USA, a drop in stock prices = economy slow down.  

So no need to use stock prices to mean China's economy is down.   

.