China stocks hover near 1-year low despite fresh support measures

Chinese shares stayed near a one-year trough on Wednesday, with the CSI300 and Shanghai Composite little changed around midday; Hong Kong’s Hang Seng also moved only slightly. Business Recorder reported that the central bank said lenders had sought more than 200 billion yuan, or $29.98 billion, through an expanded facility intended to fund listed companies’ share purchases.

The borrowing requests followed 100 billion yuan in swaps arranged a day earlier with brokers and fund managers to support share buying. Beijing announced the measures late on Monday after the CSI300 lost 8.5% in October, its steepest monthly decline since early 2016. Investors were also watching US midterm election results for possible effects on China ties and AI policy; Chinese AI shares rose, while property and telecom stocks weakened.