Stocks in HK, China tumble after Communist Party’s major leadership reshuffle

The seven-man slate in the Politburo Standing Committee led by President Xi Jinping excludes people who are market reformists or more liberal on the Covid-19 stance. PHOTO: AFP
New: Gift this subscriber-only story to your friends and family

BEIJING – Stock indexes in China and Hong Kong slid on Monday following the ruling Communist Party of China’s (CPC) unveiling of its latest line-up of elite leaders on Sunday.

The seven-man slate in the Politburo Standing Committee led by President Xi Jinping did not include individuals perceived as market reformists or with a more liberal Covid-19 stance.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.