Asian stocks fell as China’s property back in focus : Daily Market Update- Equity 5 Sep 2023

Asian stocks are under pressure as traders returned their focus to China’s efforts to halt its economic malaise after markets in the US were shut for the US Labor Day holiday. Hong Kong shares fell after Monday’s rally that saw the Hang Seng Index jump almost 3% on the government’s latest property support. Mainland China shares also slipped. Developer Country Garden Holdings Co. is in spotlight after the company is reported to plan payment extensions of seven yuan bonds. It is also entering the final hours of a grace period to pay interest on dollar bonds.