Publications
Partners
Hong Kong - Chinese equities swung between gains and losses, with some energy companies declining amid a drop in crude prices and consumer stocks eking out a gain.
The Shanghai Composite Index fell 0.1% as of 1:44 p.m., after rising as much as 0.5% earlier. Liquor maker Kweichow Moutai led a measure of consumer shares higher, while China Shenhua Energy slipped 1.5%. The Hang Seng Index in Hong Kong dropped for a second day after entering a bull market last week.
Trading volume on the mainland was 24% below the 30-day average for the time of day, with a measure of 10-day volatility dropping to a two-year low. The moves come after Group of 20 finance chiefs signalled escalating concern about a wave of anti-globalisation sentiment.
Following a two-day meeting in Chengdu city, they emphasised fiscal and structural policies to boost growth, and renewed a pledge to promote inclusiveness.
"Traders may be waiting for new economic leads on China," said Bernard Aw, a strategist at IG Asia in Singapore. "This week is very light on China data, so I expect Chinese indexes to remain in a holding pattern until next week, when we have some PMI releases."
The National Bureau of Statistics will likely report another month of growth in industrial profits for June, Bloomberg Intelligence said before data due on Wednesday. A gauge of manufacturing probably remained at 50, the dividing line between expansion and contraction, according to a Bloomberg survey.
The figures are scheduled to be released on August 1.
The Shanghai Composite was at 3 010.29. The Hang Seng China Enterprise Index fell 0.5% in Hong Kong, while the Hang Seng Index lost 0.2%. Kweichow Moutai advanced 0.9% and China Shenhua Energy dropped 1.7% in Shanghai. China Oilfield Services retreated 0.7% to a two-week low in Hong Kong.
A gauge of consumer-staples companies rallied 0.5% among industry groups on the CSI 300 index. In Hong Kong, Dongfeng Motor Group rallied 4% after Credit Suisse Group said its Honda raised its 2016 sales target by 11% to 500 000 units.
A total of 14 companies will raise as much as 12bn yuan ($2.1bn) via initial public offerings, China Securities Regulatory Commission said in a statement on July 22. Seven companies will be listed on the Shanghai Stock Exchange with the others in Shenzhen, it said.
