China shares fall as rising Sino-U.S. tensions dent sentiment

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SHANGHAI — Chinese language shares fell and Hong Kong was blended on Friday, as elevated Sino-U.S. geopolitical tensions dented investor sentiment after U.S. lawmakers on Thursday accused TikTok of serving dangerous content material as they pushed to ban the app.

** China’s blue-chip CSI300 Index dropped 0.3% by the lunch break, whereas the Shanghai Composite Index misplaced 0.5%.

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** Hong Kong’s benchmark Hold Seng Index was down 0.2%, and the China Enterprises Index slid 0.1%.

** U.S. lawmakers on Thursday battered TikTok’s chief government, saying the app’s brief movies have been damaging youngsters’s psychological well being, pushing additional to ban the app nationwide.

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** The case of TikTok, whose guardian firm is China-based ByteDance, raised tensions between Washington and Beijing. Thursday’s congressional listening to got here after the Biden administration demanded its Chinese language house owners divest their stakes or face a possible ban, mentioned TikTok final week.

** International buyers recorded a internet promoting through Inventory Join by noon, after hanging a internet shopping for for 9 consecutive classes.

** Lingering considerations from the worldwide banking disaster endured, as Hong Kong’s central financial institution mentioned on Friday that the town wants to look at rigorously for any additional “spillover” from U.S. regional banks, though it has little or no publicity to the state of affairs in European and U.S. monetary establishments.

** In China, telecommunication providers shares misplaced steam and declined 1.74%, with China United Community Communications Ltd, China Cellular Ltd, and China Telecom Corp Ltd, down 4.9%, 2.7%, and 4.1%, respectively.

** In Hong Kong, sector performances have been blended. Tech shares rose 1.3%, persevering with its momentum from yesterday, whereas vitality and monetary shares dropped 1.7% and 1.2%, respectively. (Reporting by Shanghai Newsroom; Enhancing by Varun H Okay)

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