“Chinese stocks fell again in Wednesday’s trading session, underscoring the need for authorities to take quick action to preserve the economic recovery achieved by policymakers’ commitment to support. In her analysis, the chief China strategist at Morgan Stanley noted that Rapid follow-up of policy implementation, especially those related to the real estate sector, will be crucial to boost stock growth.
Global markets are awaiting the expected decision from the Federal Reserve regarding interest rates, which are expected to be raised by 25 basis points.
With regard to the performance of Chinese stocks, the “Shanghai Composite” index witnessed a decrease of 0.26% to 3223 points, while the “CSI 300” decreased by 0.21% to 3907 points after rising at the largest pace since last November. The Shenzhen Composite Index declined by 0.52%, at 2,037 points.
On the other hand, the US currency rose against its Chinese counterpart, by 0.22%, to reach 7.1524 yuan at 12:30 PM Mecca time.
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