China Stocks Fall as Traders Unimpressed by Xi-Biden Meeting
- Hang Seng China gauge slips after rallying on Wednesday
- Property woes deepen as home prices fall most in eight years
This article is for subscribers only.
Chinese stocks slid following a much-anticipated meeting between Presidents Joe Biden and Xi Jinping, as traders saw only modest progress in the strained ties and as fresh data renewed concern over the world’s second-largest economy.
The Hang Seng China Enterprises Index closed down 1.4% to lead losses among major Asia equity gauges. It jumped 4% in the previous session partly as investors looked to the summit for catalysts. On the mainland, the benchmark CSI 300 Index snapped a two-day advance to drop nearly 1%.