SHANGHAI: China stocks fell on Wednesday, dragged by real estate shares, while rating agency Fitch revised its outlook on China to negative. Hong Kong shares were up, led by tech stocks.
Ratings agency Fitch revised its outlook on China to negative on Tuesday, citing increasing risks to the country’s public finance outlook.
China stocks were closed for midday break before the release of the rating downgrade.
Several property developers reported weakening sales in March, suggesting continued pressure for the sector and dragging real estate shares down.
Investors are also awaiting for a string of key economic data due this week and the next week to gauge policy paths.
The Shanghai Composite index retreated 0.34% at 3,038.25 points by the midday break, while the blue-chip CSI 300 index was down 0.43%.
Financial stocks, consumer staples , healthcare and real estate fell…
