China’s blue-chip CSI300 index dropped 1.3% to 4,875.26 points and is on track to fall more than 3.7% for the week, the biggest weekly decline since July, while the Shanghai stock market lost 1%, according to Reuters. However, the Hang Seng index gained 0.3% to 26,485.23 points, while the Hong Kong China Enterprises Index added 0.1% to 10,421.90.
- Investors are concerned that Beijing could start tightening monetary policies amid a robust economic recovery and rising commodity prices.
- On Thursday, Dow Jones Indices announced it would remove some Chinese companies from its index products following Trump’s executive order, escalating Sino-U.S. tensions.
- Last week, FTSE Russell made a similar move as Dow Jones, and rival index publisher MSCI is expected to follow suit.
- The U.S. Federal Communications Commission (FCC) on Thursday announced it has begun the process of revoking China Telecom’s authorization to operate in the U.S.
- Chinese stocks fell across the board, with shares of Chinese retailer Suning.com declining over 5% on Friday morning amid lingering concerns over its financial health.
China’s stocks are currently declining. CSI 300 Index is down 1.03%.
