March 1, 2024
Crédito: REUTERS/Aly Song

Shares of China fell after US inflation data

Credit: REUTERS / Aly song

A man wears a mask inside the Shanghai Stock Exchange (Credit: REUTERS / Aly song)

SHANGHOI (Reuters) – China stocks ended lower after a volatile session on Thursday as US inflation eased to a stronger-than-expected level, despite the Govt-19 lawsuits and officials promising to stabilize the economy.

The CSI300 index, which unites the largest companies listed in Shanghai and Shenzhen, fell 0.44% that day, while the Shanghai index fell 0.12%.

The Hong Kong Hong Cheng Index lost 2.24%, while the China Enterprises Index fell 2.6%.

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Shares fell across Asia after US inflation continued to rise, and investors were concerned about the economic cost of aggressively raising interest rates to control it.

Analysts, including Morgan Stanley’s strategists, said there would be short-term market volatility in light of China’s Govt zero policy, geopolitical tensions and US currency tightening.

The number of new Govt-19 cases in China continues to decline, with the country reporting 1,917 new cases on Wednesday, up from 1,927 a day earlier.

. In Tokyo, the Nikkei index was down 1.77% at 25,748 points.

. In Hong Kong, the HANG SENG index fell 2.24% to 19,380 points.

. In Shanghai, the SSEC index lost 0.12% to 3,054 points.

. The CSI300 index, which unites the largest companies listed in Shanghai and Shenzhen, was down 0.44% at 3,958 points.

. In Seoul, the KOSPI index fell 1.63% to 2,550 points.

. In Taiwan, the TAIEX index fell 2.43% to 15,616 points.

. In Singapore, the Straits Times index fell 1.89% to 3,165 points.

. In Sydney, the S&P / ASX 200 index was down 1.75% at 6,941.