Stock markets in China rose as traders returned from a long holiday on Monday to upbeat travel data, while Hong Kong stocks fell.
The CSI 300 added 0.3% as trading resumed following the Lunar New Year holidays that saw consumer spending jump higher than pre-Covid levels, according to official data. Tourism stocks led the gains, jumping 2% shortly after the open.
The People’s Bank of China on Sunday held a key policy rate steady as expected, as markets reassess when the U.S. Federal Reserve might start easing its monetary policy this year.
China’s central bank said it was holding the rate unchanged at 2.5% on 500 billion yuan ($69.51 billion) worth of one-year medium-term lending facility.
China’s Foreign Minister Wang Yi, reportedly, told U.S. Secretary of State Antony Blinken that the United States must lift restrictions on Chinese firms and individuals, and attempts to de-couple from Beijing would only hurt Washington.
China stocks up, Hong Kong shares fall, U.S. markets shut
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