-
Chinese Stocks Close to Erasing 2023 Gain as Headwinds Intensify
Chinese stocks fell, with the benchmark index close to erasing its gains for the year, as a weaker yuan and developers’ debt woes added to persistent worries over growth and geopolitics. The CSI 300 Index slid as much as 1%, with the energy and financial sectors leading the decline. The benchmark is among the worst performers in Asia this year, compared to a 3.4% advance in the MSCI Asia Pacific Index and double-digit gains for gauges in Japan and South Korea. Chinese stocks have steadily fallen out of favor since a reopening rally fizzled at the end of January. Weaker-than-expected economic data have prompted a ... (full story)