China and Hong Kong shares
fell on Thursday, hit by concerns over the troubled property
sector and U.S. President Joe Biden s ban on investments into
Chinese technology, although gains in. -Today at 01:07 am- MarketScreener
China, Hong Kong stocks rise after China lifts curb on foreign group tours zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
Investors betting
on recovery in China s battered property sector are favouring
the stocks and bonds of state-backed firms that are more likely
to benefit from government support, market participants.
China Life Insurance (Overseas) Hong Kong has mandated banks for its 10-year subordinated bond offering, according to a preliminary term sheet seen by Reuters on Monday. The Hong Kong arm of China's second-biggest insurer by assets is looking to raise between $1 billion and $2 billion, people with direct knowledge of the matter have previously said. China Life did not respond to an email from Reuters seeking comment on the deal.
For all the excitement whipped up in China's markets by the Politburo last week, foreign investors say policymakers' words will have to be matched by substantive action to clean up an ailing property sector before confidence recovers. The sector accounts for a quarter of China's economy, yet developers' debts are sliding deeper into distressed territory, with repayment problems mounting while sales crumble. When the Politburo signalled that there would be changes to real estate policy, along with other measures to boost an economy, it ignited the biggest one-day buying spree in China's stock markets since 2021.