Hong Kong's Hang Seng Index opened a lot lower after further bad property sector news

<p>I posted earlier on the continued headlines out of China's property development sector, notable on Country Garden, on of China's mammoth firms in the sector:</p><ul><li><a href="https://www.forexlive.com/news/hang-seng-worry-fears-a-huge-chinese-property-company-preparing-for-a-debt-restructuring-20230813/" target="_blank" rel="follow" data-article-link="true">Hang Seng worry – fears a huge Chinese property company preparing for a debt restructuring</a></li><li><a href="https://www.forexlive.com/news/hang-seng-china-property-developer-country-garden-to-suspend-onshore-bond-trading-20230813/" target="_blank" rel="follow" data-article-link="true">Hang Seng: China property developer Country Garden to suspend onshore bond trading</a></li></ul><p>Lower are:</p><ul><li>Shanghai Composite Index, down around 0.9%</li><li>Shenzhen Component</li><li>ChiNext </li><li>Hang Seng Index, down around 2%</li><li>
Hang Seng Tech Index</li></ul><p>Offshore yuan has shaken off the strong onshore yuan setting:</p><ul><li><a href="https://www.forexlive.com/centralbank/pboc-sets-usd-cny-central-rate-at-71685-vs-estimate-at-72461-20230814/" target="_blank" rel="follow" data-article-link="true">PBOC sets USD/ CNY centrall rate at 7.1685 (vs. estimate at 7.2461)</a></li></ul><p>But is finding some strength as I update, be wary of state intervention from China on the weakness:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.