** China's blue-chip CSI300 Index and the Shanghai
Composite Index ended down 0.1%.
** Meanwhile, Hong Kong's Hang Seng benchmark slipped
0.4%, Hang Seng China Enterprises Index gained 0.4%, and the
Hang Seng Tech Index jumped 1.2%.
** Geopolitical concerns have heightened amid China and
Russia vowing to deepen ties and U.S. President Joe Biden
pledging to "defend literally every inch of NATO".
** Hong Kong's Financial Secretary Paul Chan on Wednesday
unveiled policies aimed at reviving the COVID-hit economy.
** "I believe that Hong Kong's economy will visibly recover
this year, and I remain positive," Chan said.
** Meanwhile, China's Premier Li Keqiang said “China’s
economy is stabilizing and steadily improving, but still facing
challenges. China will implement measures to boost market
expectations and reinforce growth momentum.”
** China's markets have been subdued as investors are
awaiting the economic data releases for first two months as well
as the fresh policy guidance at the National People Congress
(NPC) in March, analysts said.
** Citi analysts expect reopening to drive further upside in
China and Hong Kong stock markets, with positive catalysts
coming from the upcoming National People Congress, consensus
earnings raise and bullish long-term investors.
** China's CSI Coal Index gained 0.7% as a
large-scale coal mine collapsed in the country's inner Mongolia
region, fanning fears of supply tightness.
** For China market, CSI New Energy climbed 1.4%
and CSI Machinery sub-industry index gained 1.1%,
while CSI Computer lost 1.9%.
** For Hong Kong market, Hang Seng Consumer Staples added 0.6%, and Healthcare rose 0.7%, while
Finance dropped 0.9% and Properties lost 0.7%.
** Techtronic tumbled 19% before trading was
halted after a short-seller report questioned the power tool
manufacturer's accounting methods, becoming the biggest drag on
the Hang Seng.
** HSBC Holdings declined 2.1%, Alibaba Group Holding added 2.4% (Reporting by Shanghai Newsroom Editing by Vinay Dwivedi)
