Delivery workers in Shanghai. A rising services PMI suggests smaller and private businesses continued to recover from the fallout of the Covid-19 pandemic in August. Photo: ReutersDelivery workers in Shanghai. A rising services PMI suggests smaller and private businesses continued to recover from the fallout of the Covid-19 pandemic in August. Photo: Reuters
Delivery workers in Shanghai. A rising services PMI suggests smaller and private businesses continued to recover from the fallout of the Covid-19 pandemic in August. Photo: Reuters

Hong Kong, mainland stocks surrender gains as concern about China’s banks outweighs Xiaomi, Alibaba rally and steady August economic data

  • Hong Kong and China stocks post third straight month of gains in August despite declines on Monday
  • Sentiment soured by new round of policy tightening aimed at highly-leveraged property developers, which could affect banks’ asset and loan quality

Topic |   Stocks
Delivery workers in Shanghai. A rising services PMI suggests smaller and private businesses continued to recover from the fallout of the Covid-19 pandemic in August. Photo: ReutersDelivery workers in Shanghai. A rising services PMI suggests smaller and private businesses continued to recover from the fallout of the Covid-19 pandemic in August. Photo: Reuters
Delivery workers in Shanghai. A rising services PMI suggests smaller and private businesses continued to recover from the fallout of the Covid-19 pandemic in August. Photo: Reuters
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