Hong Kong Market falls on disappointing China PMI knowledge

Hong Kong share market completed session decrease on Thursday, 31 March 2022, following decline in Mainland A-share market, as threat aversion selloff triggered on recent indicators of China’s financial slowdown and worries over wider disruption ensuing from a latest COVID-19 resurgence.

At closing bell, the benchmark Grasp Seng Index fell 1.06%, or 235.18 factors, to 21,996.85. The Grasp Seng China Enterprises Index fell 1.1%, or 83.48 factors, to 7,525.89.

China’s manufacturing facility and providers sectors shrank in March, an official survey confirmed, contracting concurrently for the primary time for the reason that 2020 peak of the COVID outbreak. The decline in China buying supervisor index (PMI) highlighted the adverse impression of lockdowns on manufacturing and financial actions.

The NBS Manufacturing PMI fell to 49.5 in March from 50.2 within the earlier month. The NBS Non-Manufacturing PMI suffered a sharper drop to 48.4 in March, from the earlier studying of 51.6.

Main the upside have been actual property concern Longfor, up 2.5%, adopted by state conglomerate CITIC, up 2.4%, after which China Development Financial institution, up 1.6%. On the draw back have been knitwear-maker Shenzhou Worldwide, off 7.3%, after which Wuxi Biologics, off 6%.

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(This story has not been edited by Enterprise Commonplace workers and is auto-generated from a syndicated feed.)

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