Apr 30, 2024 at 8:44 am GMT
SHANGHAI, (Reuters) - Mainland China stocks finished lower onTuesday as investors were largely on the sidelines ahead of the long Labor Day holiday and the U.S. FederalReserve's monetary policy meeting this week, while Hong Kong shares inched higher.
** The HongKong stock market will be closed on May 1 for Labor Day holiday, while mainland financial markets will be closed for extended holidays from Wednesday, with trading set to resume next Monday.
** Investors will quickly shift their attention to the upcoming Fed policy meeting and China's month-end Politburo meeting.
** Markets were unruffled by China's April official factory survey, which showed manufacturing activity expanded at a slower pace.
** Separately, China will step up its support for the economy, flexibly using policy tools, including banks' reserve requirement ratios (RRR) and interest rates, thePolitburo, a top decision-making body of the ruling Communist Party, was quoted by state media as saying on Tuesday, after the mainland market close.
** At the close of trade, China's main Shanghai Composite index closed down 0.26% at 3,104.82 points, while the blue-chip CSI300 indexended down 0.54%.
** The HangSeng indexwas up 16.12 points or 0.09% at 17,763.03. The Hang Seng China Enterprises indexfell 0.14% to 6,273.75.
** The benchmark Hang Seng Index rose more than 7% in April, booking the biggest monthly gain since January 2023, while both the Shanghai Composite Index and blue-chip CSI 300 index recorded their third monthly rises. ** The sub-index of the Hang Seng tracking energy shares rose 1.9%, while the IT sector dipped 0.54%, the financial sector ended 0.36% higher and the property sector dipped 0.03%.
** Around the region, MSCI 's Asia ex-Japan stock index was weaker by 0.05%, while Japan's Nikkei index closed up 1.24%.
** The yuanwas quoted at 7.2391 per U.S. dollar at 0814 GMT, 0.2% weaker than the previous close of 7.225.
 Reporting by Shanghai Newsroom; Editing by Mrigank Dhaniwala and Sohini Goswami 

Sumber : Reuters