China Stocks Stall Amid Lujiazui Forum and Global Tensions
China's stock market experienced slight declines amidst the Lujiazui Forum's lack of new policy directions. Investors are now eyeing the upcoming Politburo meeting for clearer guidance. Despite global tensions and a volatile market, some sectors, such as liquor stocks, showed resilience, rebounding after previous lows.
- Country:
- China
The stock market in China saw minor declines on Wednesday, as the Lujiazui Forum failed to deliver fresh policy guidance. Both China's CSI300 Index and the Shanghai Composite Index experienced modest losses, with Hong Kong's Hang Seng dropping by 1.2%.
China pledges to bolster innovation through science and technology bonds, according to Wu Qing, chairman of China's Securities Regulatory Commission. Meanwhile, efforts to maintain the yuan's stability were highlighted by the country's foreign exchange regulator amidst a lack of new policy signals.
Investors eagerly anticipate the upcoming July Politburo meeting for further economic support measures. As geopolitical tensions rise with ongoing missile exchanges between Iran and Israel, the risk sentiment remains fragile, impacting sectors like tech and EV industries.
(With inputs from agencies.)
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