China stocks struggle for direction; tourism shares shine

January 9, 2024 Thomson Reuters

The blue-chip CSI 300 Index and the Shanghai Composite Index both edged up 0.2% at market close

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Hong Kong's Hang Seng Index slipped 0.2%, and the Hang Seng China Enterprises Index lost 0.6%

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"There were few signs of a recovery in the first week of 2024, with a risk-off move broadly across China's asset classes," said Ting Lu, chief China economist at Nomura

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"We think the PBOC (central bank) is quite likely to cut its benchmark lending rates next Monday."

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