Chinese Stocks Pare Losses as Traders Weigh Robust Holiday Data

(Bloomberg) — Chinese stocks trimmed an early loss as traders weighed upbeat holiday travel data against a contraction in factory output.

The CSI 300 Index slipped 0.1% after falling as much as 0.7% as onshore markets reopened after the Labor Day holiday. Shares linked to the travel and energy sectors led declines.

Upbeat holiday travel figures are doing little to shore up Chinese equities, after the reopening rally faltered amid growth jitters and geopolitical risks. An unexpected contraction in the manufacturing sector is reinforcing concerns about an uneven recovery after the nation emerged from years of strict Covid curbs.