China Equities Lower on Weak Financials

China’s stock indexes fell slightly by midday on Tuesday due to weakness in the financial sector while Hong Kong shares were mostly flat on investor caution ahead of earnings.

By midday, the CSI300 index of leading Shanghai and Shenzhen A-share listings was down 0.2 percent. The Shanghai Composite fell 0.2 percent to 2,234.61 points, easing from an 8-month high earlier struck earlier in the day.

In Hong Kong, the HSI index edged up 0.1 percent to 24,977.66 points, with the China share sub-component was flat at 11,067.56 points.  “The financial and insurance sector has experienced a dramatic increase earlier, helping boost the bullish sentiment in the market. Now they are in a correction period,” said Zhang Yanbin, an analyst from Zheshang Securities.

Reuters

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