SHANGHAI, July 25 (Reuters) - China stocks fell on Monday as
domestic COVID-19 flare-ups and global recession concerns
weighed on equities, although real estate companies surged as a
source told Reuters that Beijing is planning to provide
financial support to the sector.
The CSI300 index fell 0.8% to 4,203.55 at the end
of the morning session, while the Shanghai Composite Index
lost 0.7%, to 3,246.70.
The Hang Seng index dropped 0.8% to 20,454.69. The
Hong Kong China Enterprises Index lost 0.9% to 7,039.86.
** Mainland China reported 800 new coronavirus cases for
** Other Asian stocks also lost ground, as worries about a
global economic downturn sapped investors' risk appetite.
** "A-shares appeared relatively weak since July, following
a strong rebound," said CICC in a note, adding that investors
should focus on the potential upcoming July Politburo meeting.
** China will set up a real estate fund to help developers
resolve a crippling debt crisis, aiming for a warchest of up to
300 billion yuan ($44.4 billion), according to a state bank
official with direct knowledge of the matter.
** The Hang Seng Mainland Properties Index jumped
3.4%, and the CSI 300 Real Estate Index rose 1.9%.
** New energy shares lost 1.7%, automobiles
tumbled 2.8%, and communications equipment
** The Shanghai Stock Exchange (SSE) vowed to maintain
market stability ahead of the politically significant 20th Party
Congress later this year.
** China's transport ministry tightened existing rules
governing how online ride-hailing firms should handle and share
their data with regulators, signaling tighter regulatory
** Tech giants listed in Hong Kong dropped 2%,
with index heavyweights Alibaba, Tencent and
Meituan down between 2% and 3%.
** Meanwhile, the Financial Times reported that China is
planning to sort U.S.-listed Chinese companies into groups based
on the sensitivity of the data they hold, bringing them into
compliance with U.S. rules.
(Reporting by Shanghai Newsroom; editing by Uttaresh.V)