Chinese markets saw a slight uptick on Tuesday following a clear signal from the nation’s cabinet that it will intensify counter‑cyclical policy support to address mounting economic strains. The move came ahead of the week‑long National Day holiday, which has kept trading volumes thin.
Market performance
The blue‑chip CSI300 Index was roughly flat by the lunch break, while the Shanghai Composite Index edged up 0.1%. In contrast, Hong Kong’s Hang Seng benchmark slipped 0.6%.
Real‑estate sector leads gains
Shares of major property developers rose sharply, with Vanke climbing nearly 8% after the State Council meeting pledged new measures to stabilise the housing market.
Analyst commentary
Goldman Sachs analysts noted that policymakers are expected to broaden the use of housing provident funds to modestly lower weighted‑average mortgage rates and encourage large cities to introduce local housing‑easing measures.
Meanwhile, analysts at Northeast Securities warned that rising U.S. Treasury yields and limited liquidity ahead of the holiday weighed on sentiment, though they added that after recent sharp declines, quality assets have become more attractively valued.
Sector highlights
AI component makers saw a modest rebound, with the 5G Communication Index up 0.8% and the tech‑focused STAR50 Index gaining 0.6%.
The Hang Seng Innovative Drug Index rose 3.3%, while tech majors listed in Hong Kong fell 1.4%.
Fast‑fashion platform Shein Global Holdings slipped to its lowest level since its debut on September 1.
Holiday outlook
China’s National Day holiday will begin on Thursday, with onshore trading set to resume on October 8.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
