SHANGHAI: Chinese stocks fell on Wednesday, led by by banking and consumer staples, while real estate shares jumped after developer China Evergrande assured to make bond interest payment. The banking sub-index slumped 3.44%, while the real estate index jumped 5% after opening down nearly 2%. Over the holiday, property and banking stocks slumped in the Hong Kong market due to growing risks of defaults at Chinese property developers and concerns that Beijing's "common prosperity" agenda would also include Hong Kong real estate names. They added overseas investors took up more than 40% of the investors in the Hong Kong market. Chinese A-share market opened after the Mid-Autumn Festival holiday, while the Hong Kong market was shut on Wednesday for a public holiday.

Source: The Star September 22, 2021 04:52 UTC