Chinese equities fell for the third consecutive day Tuesday, driving the benchmark index down to a nearly three-month low as fears of policy tightening continued to dampen property shares.
Bank of China (BOC) is planning to raise additional capital by selling new shares in Hong Kong after its 40 billion yuan ($5.9 billion) convertible bond sale on the mainland, analysts said yesterday.
Mutual funds will be the key beneficiaries from both China's GDP growth and a rise in personal incomes over the next 10 years, as fund holdings make up an ever-larger percentage of household assets, said Michael McCormack, executive director at Z-Ben Advisors in Shanghai.
Hong Kong stocks fell 127.63 points, or 0.62 percent, to close at 20,598.55 Monday.
The ChiNext stock market closed down Monday as only four of the 50 shares at China's start-up board for small and medium-sized enterprises rose.
Chinese shares slid Monday, dragging down the benchmark index to a one-month low.
Funds for overseas investment run by qualified domestic institutional investors (QDII) in China are still having a hard time attracting customers who seem happier to focus on the more appealing domestic market.
Zhanjiang Port (Group) Co, managing the 16th largest port in China, is seeking a domestic listing in the second half of this year, company sources said.
The ChiNext closed down on Friday as 49 of the 50 shares at China's start-up board for small and medium-sized enterprises lost.
Hong Kong stocks fell 136.49 points or 0.65 percent to close at 20,726.18 on Friday.
Chinese shares slid on Friday, dragged down by the overnight losses in the US market sparked by President Barack Obama's proposal of tough new restrictions on banks.
Having setting up the only carbon exchange in North America, Richard Sandor, chairman and founder of the Chicago Climate Exchange, said at the Asian Financial Forum in Hong Kong on Thursday that China could become the pre-eminent market for trading air and water.