XM does not provide services to residents of the United States of America.

China, Hong Kong stocks fall ahead of May manufacturing data



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>China, Hong Kong stocks fall ahead of May manufacturing data</title></head><body>

SHANGHAI, May 30 (Reuters) -China and Hong Kong stocks fell on Tuesday as investor sentiment remained bearish ahead of China's May manufacturing data.

** China's blue-chip CSI300 Index .CSI300 dropped 0.8% by the lunch break, while the Shanghai Composite Index .SSEC lost 0.7%.

** Hong Kong's benchmark Hang Seng Index .HSI and the China Enterprises Index .HSCE were both down 1.0%.

** China's factory activity likely contracted further in May, a Reuters poll showed on Monday, adding to pressures facing the world's second-biggest economy amid an uneven economic recovery from the COVID-19 pandemic. The official manufacturing Purchasing Managers' Index (PMI) will be released on Wednesday.

** "Sentiment around China continues to be bearish ahead of May's manufacturing PMI due on Wednesday," UBS analysts wrote in a note.

** Meanwhile, tensions between the world's two largest economies continued. China has declined a request by the United States for a meeting between their defense chiefs at an annual security forum in Singapore this weekend, media reported on Monday, a new sign of strain between the powers.

** Shares of some artificial intelligence companies soared on the brain-computer interface concept, with Innovative Medical Management Co Ltd 002173.SZ and Jiangsu Apon Medical Technology Co Ltd 300753.SZ surging 10.0% and 20.0%, respectively.

** Stocks of state-owned enterprises (SOEs) regained popularity among investors. CRRC Corp Ltd 601766.SS, the rolling stock manufacturer giant, rose as much as 10%.

** Tech stocks traded in Hong Kong .HSTECH lost 0.7%, with Meituan 3690.HK and Tencent 0700.HK down 2.4% and 1.0%, respectively, dragging the Hang Seng Index down.




Reporting by Shanghai Newsroom; Editing by Sohini Goswami

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.