Investor Confidence in Chinese Markets Wavers Amid Tech Stock Gains and Factory Slowdowns
TL;DR Summary
Hong Kong's Hang Seng index rose 3% in early trade, led by gains in the technology sector, with Baidu, JD.com, and Alibaba all up about 4%. Meanwhile, oil prices traded slightly above the flatline ahead of an OPEC+ meeting this weekend, and South Korea's consumer inflation for May cooled to a 19-month low. Additionally, economists expect Friday's jobs data to highlight the challenges the Fed faces heading into the June policy meeting.
- Hong Kong's Hang Seng jumps 3% led by gains in tech stocks CNBC
- Global investors scale back bets on China's state-owned companies Nikkei Asia
- Hong Kong stocks erase gains as China slowdown erodes market confidence South China Morning Post
- Investors fret as Chinese factories decelerate Bangkok Post
- U.S.-Listed Chinese Stocks Drop, on Pace for Fresh 2023 Lows The Wall Street Journal
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