China stocks slip as tech shares lead declines, before key central bank meetings

Chinese equities were lower at Monday’s midday break, with the Shanghai Composite down 0.2% and the CSI300 off 0.5%, Business Recorder reported. Technology stocks led the declines: ChiNext fell 1.7%, STAR50 dropped 1.9%, and the CSI 5G communications gauge lost 3.7%.

Investors were cautious before major central bank meetings later this week involving the US Federal Reserve, Bank of Japan and European Central Bank. China’s blue-chip stocks had also recorded a prolonged run of weekly losses last week, while Morgan Stanley analysts cited trust tax selling concerns, pressure on ecommerce, a softer macro backdrop and global volatility as factors behind the market correction. Hong Kong’s Hang Seng rose 0.4%, although the city’s technology shares slipped 0.4%.