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China and Hong Kong stock exchanges: Country Garden crashes, Xiaomi rises
Hong Kong stock exchanges on track to gain after holiday break: China's market volatility, Country Garden Stop and Xaomi shares in focus. Nikkei-225 closes slightly positive. Australia stable. #Stock Market #Hong Kong #China #Nikkei225 #Xaomi #Australia #Stock Trading
China and Hong Kong stock exchanges: Country Garden crashes, Xiaomi rises
Asian stock markets calmed down on Tuesday after strong movements at the start of the week. China saw mixed developments, with manufacturing improving at its fastest pace in 13 months, according to current data. At the same time, trading in Country Garden securities on the Hong Kong stock exchange was halted after China's largest housing builder had to postpone the publication of its 2023 balance sheet. This led to consequences on the floor.
The CSI 300 index on mainland China fell after gains the previous day, while the Hang Seng index in Hong Kong, which was not traded the previous day, rose 2.21 percent. Japanese stocks also posted slight gains as positive signals came from the Bank of Japan's first quarter Tankan report. The leading index Nikkei-225 closed just in the black.
There were minor changes in Australia, with the S&P/ASX 200 index falling 0.11 percent. The minutes of the most recent central bank meeting showed that interest rate increases were not discussed, but the monetary authorities want to maintain a restrictive monetary policy stance and will continue to monitor inflation developments.