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Tech stocks weigh on the market as a report show Chinese manufacturing contracted in October. BYD falls as Warren Buffett sells again. Beijing wants to focus on controlling risks in the system, ignoring calls for a bigger economic stimulus.
The city’s stock benchmark is set to complete a third month of losses. A surprise drop in manufacturing in October means it’s too early to call the bottom in the Chinese economic slowdown, Nomura says.
Stocks weaken before HSBC, Bank of China and BYD report their quarterly earnings this week. Caution prevailed amid concerns about credit losses in mainland China’s property sector.
Chinese stocks rose on Monday, helped by fresh signs of government-orchestrated support measures, while Hong Kong shares fell amid persistent fears of an escalation in the Middle East war. ...
SHANGHAI: Chinese stocks rose on Monday, helped by fresh signs of government-orchestrated support measures, while...