China In-Focus — Shares edge up; Luckin plans store expansion; Asian giant forecasts 6m electric cars sale
RIYADH: China shares edged up on Tuesday, led by energy and renewable energy stocks, while gains were capped as COVID-19 outbreaks and tensions with the US weighed on sentiment.
The blue-chip CSI300 index rose 0.2 percent, to 4,156.29, while the Shanghai Composite Index gained 0.3 percent to 3,247.43 points.
The Hang Seng index fell 0.2 percent, to 20,003.44, while the China Enterprises Index lost 0.4 percent, to 6,794.77 points.
China’s Luckin plans store expansion, remains committed to US market
Two years after it was forced to withdraw from the Nasdaq for an accounting fraud, China’s Luckin Coffee believes it has emerged from its “darkest moment,” and said it remains committed to US capital markets as it expands its stores and sales.
Luckin admitted in 2020…
