China stocks retreat as Evergrande delays debt repayment while PBOC injects US$18.6 billion into market to calm nerves


Source: scmp.com scmp.com

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Stocks in mainland China dropped as trading resumed after a two-day holiday as China Evergrande Group’s debt crisis stoked concerns about contagion risks in a slowing economy. Losses narrowed after the central bank injected liquidity to calm nerves. The CSI 300 Index of the biggest companies on the Shanghai and Shenzhen bourses slid 0.7 per cent on Wednesday, with sub-gauges of financial and consumer stocks leading the decline. The Shanghai Composite Index reversed losses to advance 0.4 per cent. Hong Kong’s stock market is closed for a public holiday linked to the Mid-Autumn Festival. The city’s Hang Seng Index retreated...