Hong Kong stocks, A-shares open higher on Monday; PBOC injects net 9 bn yuan liquidity; yuan fixing raised by 56 pips
STOCKS
Hong Kong stocks, A-shares open higher on Monday; PBOC injects net 9 bn yuan liquidity; yuan fixing raised by 56 pips
STOCKS

Hong Kong stocks, A-shares open higher on Monday; PBOC injects net 9 bn yuan liquidity; yuan fixing raised by 56 pips

 

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Hong Kong Stocks open higher on Monday, with the benchmark Hang Seng Index 0.93%, the Hang Seng China Enterprises Index up 0.83% and the Hang Seng Tech Index up 0.33%.

Technology heavyweights are mostly higher, with Meituan up 3.2%, Xiaomi, JD.com and Tencent up slightly, while Alibaba down more than 1%.

Mainland property developers and mainland banks rebound after a massive sell-off last week. Heavy machinery manufacturers, gold stocks, drugmakers, auto dealers are mostly higher. Mainland insurance companies, airlines, internet healthcare companies are trading lower.

Chinese A-shares open higher, with the benchmark Shanghai Composite Index up 0.22%, the Shenzhen Component Index up 0.36% and the tech-heavy Chinext Price Index up 0.65%.

Lithium battery makers, energy storage companies, auto parts suppliers are leading the gains, while airlines, hog farmers and entertainment companies are trading lower.

The People’s Bank of China raised the yuan’s fixing by 56 pips to 6.7447 per US dollar on Monday, compared to a fixing of 6.7503 in the previous trading day.

The PBOC injects 12 billion yuan liquidity to the banking system via 7-day reverse repurchase agreement, while 3 billion yuan reverse repo expires, leaving a net 9 billion yuan injection.