Hong Kong Stocks Lose Ground At Break

Hong Kong stocks were slightly lower by the break on Monday as investors keep track of US stimulus talks and the rollout of vaccines while new virus infections surge.

The Hang Seng Index eased 0.1 percent, or 25 points, to 26,480.

Mainland stocks, meanwhile, started the week on a firm note thanks to hopes of more policy support by the central government to shore up the world's second-largest economy hurt by the coronavirus crisis.

The CSI300 index rose 0.6 percent to 4,918 at the end of the morning session, while the Shanghai Composite Index gained 0.4 percent to 3,360.

China will step up fiscal policy support for a strategy to make its economy mainly rely on domestic demand, supply chains and innovation, Finance Minister Liu Kun said.

President Xi Jinping on Saturday targetted a steeper cut in rates of carbon emissions relative to economic activity by 2030 and set new goals for growth in renewable energy and forest stock.

A continued economic recovery and policy support would help boost market confidence, analysts at Dongguang Securities said in a note. (AFP/Reuters)

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