Mainland China Bourses Take Break Amid Challenging Year
Mainland China stock exchanges, as well as the Hong Kong Stock Exchange, will be closed until October 9th for National Day holidays. This comes at a time when Chinese stocks have been facing a tough year, with the CSI 300 Index and Hang Seng Index both experiencing significant declines from their 2023 highs. Geopolitical tension, particularly with the U.S., has led to outflows of international capital from Chinese stocks and dampened investor confidence. Chinese real estate developers have been hit hard, with companies like Country Garden losing a significant portion of their value. Meanwhile, U.S.-listed Chinese companies like Alibaba and JD.com have also faced challenges, with JD.com losing nearly half of its value this year.