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Market Update: Chinese Shares Gain at Close; HK Down
The Shanghai Composite added 10.73 points or 0.31% to 3497.28 on Monday, reversing losses of 0.12% in the previous week, helped by gains for financial firms amid ample liquidity, falling interest rates and commodities prices, but caution remained as investors awaited key US inflation readings for guidance on monetary policy. On the pandemic front, a US intelligence report found that several researchers at China’s Wuhan Institute of Virology fell ill in November 2019 and had to be hospitalized, adding weight to calls for a fuller probe of whether the COVID-19 virus may have escaped from the laboratory, said the Wall Street Journal. Traders now look toward the release of US consumer prices later in the week, along with the 2nd estimate Q1 US GDP and President Biden’s FY2022 budget. In Hong Kong, the Hang Seng Index lost 62.82 points or 0.22% to 28395.62. . [/s2If]
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